Tag Archives: scams

Reverse mortgages

Reverse mortgages are not new, but they have been gaining in popularity.  In March 2009, the New York Times attributed recent interest to the credit crunch, since reverse mortgage lenders do not generally consider borrowers’ credit histories. According to the New … Continue reading

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The free lunch seminar trap

A recent Wall Street Journal article by Jennifer Levitz reported that financial scams targeting seniors are on the rise, and states are responding by increasing penalties on scammers. Seizing on fear of stock-market turmoil, sales people and fraudsters are hawking … Continue reading

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Risks of stranger-originated life insurance policies (SOLI or STOLI)

Stranger-originated life insurance policies are pitched as cost-free and risk-free for the insured, but they actually pose significant risks. Continue reading

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Litigation over stranger-originated life insurance policies (SOLI or STOLI)

The New York Law Journal recently reported on a case involving a life insurance company’s refusal to pay a death benefit on a policy it considered a “stranger-originated life insurance” policy (known as SOLI or STOLI policies). In ruling on … Continue reading

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