West Palm Beach False Claims Act & Whistleblower Cases
Reverse mortgage fraud is on the rise, and taxpayers are paying the bill. How?
A reverse mortgage is a type of home equity loan available only to elderly borrowers who have a large amount of equity in their homes. Essentially, the borrower cashes out the equity by taking a loan, usually paid to the borrower in a lump sum by a lender. The borrower puts up his or her home as collateral, and the borrower must repay the loan once he or she moves, sells the home, or passes away. (Usually, the borrower’s estate sells the home and uses the proceeds to pay off the loan).