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 Don't Be a Victim of Fraud

  

Thank you for allowing us to share our knowledge with you. We will continue to bring you relevant information for businesses and attorneys who represent them.

 

In this edition we have provided you "Tips to Avoid Reverse Mortgage Scams" and "Who Is Prime Target for These Scams".

 

We want to write about what you want to know. Please e-mail us your topics of interest at fraudalert@cadfaelinvestigativegroup.com.

 

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Cadfael Investigative Group will help keep your money safe.

 

Sincerely,

Thomas M. Rucke, President
Cadfael Investigative Group, Inc.

Tips to Avoid Reverse Mortgage Scams


You have probably seen the ads on late night television where a former senator or an older television star informs the viewer how easy it is to obtain a Reverse Mortgage. The pitch goes something like "You can obtain some needed cash and you still own your home!" Unfortunately, such offers can easily be converted into fraud schemes that target senior citizens and the substantial equity in their homes.

 

If you are considering a reverse mortgage be careful. Reverse mortgages, also known as Home Equity Conversion Mortgages (HCEM) have increased more than 1300% from 1999 to 2008, creating significant opportunities for fraudsters.

 

Reverse Mortgage Scams are devised and developed by unscrupulous individuals in real estate and financial services. Seniors are offered free homes, investment property, and foreclosure or refinance assistance, and are sometimes used as "straw buyers" in property flipping scams.

 

Some scammers target senior members of local churches, send invitations to "investment seminars," and use television and radio media to attract unsuspecting victims. Once a senior's name and other personal information are... Read More  

 


Fraud Target - Senior Citizens 

 

Over the past few months we have described fraud schemes that target senior citizens and given tips on how you can protect yourself and seniors in your family from such schemes. Now it is appropriate to review what we have learned:

  1. Senior citizens are highly likely to have saved money over the years, and many keep a significant amount of cash hidden in their home for easy access. Fraudsters often target these savings.     
  2. Today's seniors endured the depression, fought or feared World War II and the Korean War, and in spite of it all developed conventions of being polite and welcoming. Consequently, it can be extremely difficult for seniors to give scammers a resounding "no" answer or simply hang up on unwanted solicitors.    
  3. Most victims of fraud scams are unlikely to report being a victim of fraud, and seniors are even less likely to report this crime for a number of reasons. The primary reason being that... Read More  

 

 September 2013
In This Issue
Tips to Avoid Reverse Mortgage Scams
Fraud Target - Senior Citizens
Fraud Tip
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Fraud Tip

Tips for Avoiding Reverse Mortgage Scams

  • Do not respond to unsolicited advertisements.
  • Be suspicious of anyone claiming that you can own a home with no down payment.
  • Do not sign anything that you do not fully understand.
  • Do not accept payment from individuals for a home you did not purchase.
  • Seek out your own reverse mortgage counselor.

If you suspect fraud 
Call Cadfael!

 

 


If you suspect fraud or are troubled by an offer, call us with the information. We can help you identify if it is a fraud. Remember, if something appears too good to be true, it usually is.


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About Us
At Cadfael Investigative Group, Inc. we help our clients' identify and eradicate fraud. We provide them with the power of knowledge. We bring added information and insight to clarify and understand challenges they face.

Our investigative focus is on fraud identification and prevention in the legal and business communities of Minneapolis, MN. Our focus in the area of our expertise allows our experienced investigators to utilize their skills and gives our clients good value for their investment and an economic advantage. We provide our clients information they need to protect their clients and business. We also provide them with new services and capabilities that free up their time so they can focus on what they do best.

Our clients benefit by improved employee loyalty, increased profitability, and less time and resources spent managing internal losses. Learn more...


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