reverse mortgagescamtargeting homeowners has been reportedto Ƶapp.The Ƶapp Robocall Protection Teamconsistentlyreport financialscamcalls as the highest category of, with this trend increasingly rapidly since April2025.Reverse mortgagescamcallsare financialscamsandolderhomeownersacross Americaare at risk of being targeted by the bad actors behind thisscam.
What is areverse mortgagescam?
Thereverse mortgagescamuses robocalls to target American’s that qualify for a reverse mortgage – those 62 or over.
Here is an example of a real attempt at areversemortgagescam:
“Hi, this is Jessica Tooley.I’mcalling abouta possible issuewith the setup of your reverse mortgage. It mayimpactyour available funds.It’surgent that we review this with you. Press one now to speak with a licensed reverse mortgage expert.”
According to the FTC, a reverse mortgageis a loan where– allowing homeowners to access their equity without selling their house right away.
Howtoidentifyareverse mortgagescam?
Reverse mortgagescamscan be easilyidentifiedonce the redflags tolook out for are known.
- Pressure:by claiming the issue may “impact your available funds” andit’s“urgent” that you speak to an expert, thereverse mortgagescamcaller isattemptingto place pressure on their target.
- Too good to be true offers:reverse mortgagescamcallswilllikely makeyou an offer that seems too good to be true – becauseit’sprobably ascam.Reverse mortgagescamcallsthat have been reported often pressurethe target by promisingvery lowrates or no closing costs.
Another thing worth nothing is that a lot of thesereverse mortgagescamcallsstem from mortgage trigger leads.This happens when credit card companies sell their lists of whohasrecently applied for a loanto mortgage companies.Some oftherecipientsof these leads may belegitimate,howeverthis practice, whilelegal, does contribute to the high volume of spam calls to consumers.
HowdoIprotect myself from areverse mortgagescam?
Reverse mortgagescamcallscan catchpeople out, so it is important to stay alert to such calls. Doing your research, asking the rightquestionsand protecting your personal information are all steps toavoiding thereverse mortgagescam. No legitimate mortgage broker willquestion your desire to do this – however, scammers will.
- Ask questions:If you are contacted, askthe caller to provide theirbrokerslicense or check. Legitimate brokerswill not beoffended that you ask, nor should they refuse to provideyou with this information.
- Understand fees: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 ascam.
- Do your research:If a reverse mortgage broker reaches out to you with no prior contact, do yourresearchto find out if they are part of areverse mortgagescam.Look the company up to see if they are a legitimate business or ask friends and family for their opinion before engaging.
- Submit a report to the FTC:If you are a victim of a reverse mortgagescam, you can.Bysubmittinga report, you can help the FTCto trackdown thescams, prevent bad actors from targetingothersand help raise awareness ofthereverse mortgagescam.
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 ascam, you can report it to your local police, state Attorney General’sofficeand the FTC.
Call-blocking apps, including those powered byƵapp Call Guardian®, are also a great resource for reporting and blocking unwanted robocalls.
Call Guardian is a registered trademark of Transaction Network Services, Inc. įį
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