础听reverse mortgage听scam听targeting homeowners has been reported听to TNS.听The TNS Robocall Protection Team听consistently听report financial听scam听calls as the highest category of听, with this trend increasingly rapidly since April听2025.听Reverse mortgage听scam听calls听are financial听scams听and听older听homeowners听across America听are at risk of being targeted by the bad actors behind this听scam.听
What is a听reverse mortgage听scam?听
The听reverse mortgage听scam听uses robocalls to target American鈥檚 that qualify for a reverse mortgage 鈥 those 62 or over.听听
Here is an example of a real attempt at a听reverse听mortgage听scam:听听
鈥Hi, this is Jessica Tooley.听I’m听calling about听a possible issue听with the setup of your reverse mortgage. It may听impact听your available funds.听It’s听urgent that we review this with you. Press one now to speak with a licensed reverse mortgage expert.鈥听
According to the FTC, a reverse mortgage听is a loan where听听鈥 allowing homeowners to access their equity without selling their house right away.听听
How听to听identify听a听reverse mortgage听scam?听
Reverse mortgage听scams听can be easily听identified听once the red听flags to听look out for are known.听
- Pressure:听by claiming the issue may 鈥渋mpact your available funds鈥 and听it鈥檚听鈥渦rgent鈥 that you speak to an expert, the听reverse mortgage听scam听caller is听attempting听to place pressure on their target.听
- Too good to be true offers:听reverse mortgage听scam听calls听will听likely make听you an offer that seems too good to be true 鈥 because听it鈥檚听probably a听scam.听Reverse mortgage听scam听calls听that have been reported often pressure听the target by promising听very low听rates or no closing costs.听听
Another thing worth nothing is that a lot of these听reverse mortgage听scam听calls听stem from mortgage trigger leads.听This happens when credit card companies sell their lists of who听has听recently applied for a loan听to mortgage companies.听Some of听the听recipients听of these leads may be听legitimate,听however听this practice, while听legal, does contribute to the high volume of spam calls to consumers.听
How听do听I听protect myself from a听reverse mortgage听scam?听
Reverse mortgage听scam听calls听can catch听people out, so it is important to stay alert to such calls. Doing your research, asking the right听questions听and protecting your personal information are all steps to听avoiding the听reverse mortgage听scam. No legitimate mortgage broker will听question your desire to do this 鈥 however, scammers will.听
- Ask questions:听If you are contacted, ask听the caller to provide their听brokers听license or check听. Legitimate brokers听will not be听offended that you ask, nor should they refuse to provide听you with this information.听听
- Understand fees:听Broker fees are typically paid at closing and are part of your closing costs. If a reverse mortgage broker contacts you asking for fees up front, this is indicative of a听scam.听
- Do your research:听If a reverse mortgage broker reaches out to you with no prior contact, do your听research听to find out if they are part of a听reverse mortgage听scam.听Look the company up to see if they are a legitimate business or ask friends and family for their opinion before engaging.听
- Submit a report to the FTC:听If you are a victim of a reverse mortgage听scam, you can听.听By听submitting听a report, you can help the FTC听to track听down the听scams, prevent bad actors from targeting听others听and help raise awareness of听the听reverse mortgage听scam.听
It is best practice to never engage with unknown numbers and report phone numbers being used by scammers to your carrier. If you believe you are the victim of a听scam, you can report it to your local police, state Attorney General鈥檚听office听and the FTC.听
Call-blocking apps, including those powered by听TNS Call Guardian庐, are also a great resource for reporting and blocking unwanted robocalls.鈥
Call Guardian is a registered trademark of Transaction Network Services, Inc.鈥鈥赌赌听
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