Fake reverse mortgage / equity release senior scam — access $200K home equity tax-free + no monthly payments ever + guaranteed approval + pay $495 application fee upfront + seniors 62+ targeted

Reverse mortgage and equity release fraud — cold-contact targeting homeowners aged 55–62+ with fraudulent "government-backed" or "exclusive" programs that promise tax-free cash from home equity with no monthly repayments, then demand an upfront "application fee," "arrangement fee," or "processing fee" ($299–$599) before any loan is issued. Legitimate reverse mortgages (US: HECM, UK: lifetime mortgages) never require upfront application fees — costs are rolled into the loan. Red flags: upfront fee demand, "guaranteed approval" regardless of credit or income (real reverse mortgages still require financial assessment), urgency ("rate expires Friday"), cold-contact emails (real lenders are sought out, not email blast). The US HECM program requires HUD-approved counseling before closing; the UK equity release market is regulated by the FCA and the Equity Release Council. Consumer Financial Protection Bureau (CFPB) reports that reverse mortgage fraud disproportionately targets older adults, with losses often representing their entire housing wealth. Common variants: fake "government energy efficiency home improvement loan" for seniors, fake "pension release" services demanding access fees. If you are 62+ and exploring options, contact a HUD-approved HECM counselor (free: 1-800-569-4287) or FCA-regulated equity release adviser.