Seniors sibling of my spouse, obtained this amazing present within the email that Monetary Independence Reversemortgage might pay him money upfront, for his home and he'd not have to settle the mortgage. Clearly he didn't realize that he was designed to create monthly obligations back again to the mortgage business. Once the claims began arriving, the cost was over $500/mo, and he just had social protection for revenue. Today, 5 years later, we discover the mortgage firm claims he owes over $115,000 on the home worth of $80,000. Today they're send characters that state they're likely to foreclose about the home, and he'll don't have any spot to proceed. Five years back, he'd a house taken care of, and today nothing. This really is obviously misuse towards the elderly.
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