The Home Equity Theft Reporter: Senior Citizens, Retirement Funds Victimized By Subprime Lending Mess

Vanity Fair- Last month, the New York Times reported that anti-money-laundering specialists at Deutsche Bank had flagged "suspicious activity" on the accounts of both Donald Trump and Jared Kushner in 2016 and 2017, advising that they be reported to a financial-crimes regulator-only to be told by higher-ups that their concerns were unfounded and to stop bein [.]

The scammers keep the cash and pay a fee to the senior citizen or take the full amount unbeknownst to the senior citizen. No loan payment or repayment is required until the borrower no longer uses.

of senior citizens targeted for reverse mortgage transactions.. of certain types of “correspondent fees” by a lender to a mortgage broker creates a “financial.. Consumer Home equity line suspended by bank without proper.. retirement savings in junk bonds and left her without any retirement which.

USA TODAY- In a stealth aftershock of the Great Recession, nearly 100,000 loans that allowed senior citizens to tap into their home equity have failed, blindsiding elderly borrowers and their families and dragging down property values in their neighborhoods.

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Among other things, McCain senior adviser Steve Schmidt said McCain would begin unilaterally pulling down his campaign ads and cease fundraising. "It has become clear that no consensus has developed.

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In Castle Rock, Colorado, the Daily Mail reports:. A grieving widow has lost $500,000 of her life savings and her home after being taken in by an Internet dating scam. Esther Ortiz-Rodeghero, 55, decided to look for love online after she lost her husband and thought she had hit the jackpot with a suave military man on the website, seniorpeoplemeet.com.

Tampa Mortgage Broker: Marimark Mortgage The Merrimack is a mutually owned community bank in Concord, New Hampshire. The Merrimack had been helping New hampshire residents achieve their dreams of home ownership Offering convenient online application for most popular mortgage programs.

Bullock (2012) to unlimited “dark money” Super PAC campaign donations to. and state attorneys general (as “citizens” corporations were exercising their “free speech”).. pensions and 401(k)'s that rely on growing a nest egg for retirement. upper-middle class Americans borrowing too much against their home equity .

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Subprime lending refers to the extension of credit to higher risk borrowers or to those with non-existent credit histories at interest rates and fees higher than conventional loans. Some companies make auto and home equity loans to minorities, the elderly, and low-income borrowers at interest rates as high as 20 to 24 percent in states without usury statutes.

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