Tag: financial fraud

These days many seniors find themselves without enough to make ends meet. Then you turn on the TV and hear Robert Wagner, Pat Boone, Alex Trebek, Fred Thompson and even “Fonzie” telling us about the easy money provided by reverse mortgages. A reverse mortgage is a loan for senior homeowners, age 62 and older, that uses the home’s equity as collateral. The loan generally does not have to be repaid until the borrowers move out of the property or pass away.

Standing in front of a JPMorgan Chase bank branch on Tuesday afternoon, San Francisco Supervisor John Avalos announced he was launching an investigation into San Francisco’s potential losses from the LIBOR interest rate fraud scandal and to explore options to recoup that money as other cities and counties have recently done.