Reverse Mortgage Ads Misled Consumers, Complaint Charges
An Irvine, California, company is being accused of using inflated home estimates to lure consumers into taking out reverse mortgages. The Consumer Financial Protection Bureau (CFPB) leveled the charges against American Advisors Group (AAG).
“American Advisors Group violated consumers’ trust by advertising reverse mortgages with inflated and deceptive home-value estimates,