The day of Reverse Mortgage Scams and scammers is coming to an end. Thanks to new laws and lawmakers, there have been some new measures designed on averting reverse mortgage scams. This, combined with the ready availability of honest, comprehensive reverse mortgage information on the Internet, should make Reverse Mortgage Scams a thing of the past.

The most popular form of reverse mortgage is called a Home Equity Conversion Mortgage, or HECM. This loan is sponsored by the federal government and is one of the most heavily regulated mortgages ever created. For the casual loan shark, it’s not even worth the paperwork to try to perpetrate an HECM scam. Meanwhile, state attorney generals stand ready to guard elderly citizens from the predations of unscrupulous lenders. For a state attorney general, nailing a reverse mortgage scammer is the best PR in the world.

AARP has a whole section on its Web site about reverse mortgages. Many other sites offer information about reverse mortgages. Moreover, seniors are required to sit down with a housing counselor before accepting a reverse mortgage.  Scammers are discovering that there are quicker, easier ways to make a dishonest buck than selling reverse mortgages.