Elder Financial Abuse Resources for Consumers
General Resources
Reverse Mortgage Resources
Medi-Cal Eligibility Manual, 9D-1 to 9 D-3
Covers loans requiring repayment, i.e., commercial, personal, Home Equity Conversion Plans
(Reverse Mortgages, Deferred Payment Loan)
California Code of Regulations
Title 22 Section 50483 - Loans requiring repayment, and not school related
(50533), are considered exempt as property in the month of receipt, not income.
Title 22 Section 50507(a)(2): Reverse annuity mortgages are considered annuities and treated as countable income.
Advocate Resources:
National Consumer Law Center ( http://www.nclc.org )
- Reverse Mortgages: Spending the House, A Quick Guide for Advocates on Reverse Mortgages; Tips for
Consumers on Reverse Mortgages with CD-Rom
- Predatory Lending: STOP Predatory Lending: A Guide for Legal Advocates with CD-Rom
AARP (http://www.aarp.org/money/revmort/)
- Home Made Money: A Consumer Guide to Reverse Mortgages and other resources on reverse mortgages
Fannie Mae (www.fanniemae.com)
- Money from Home: A Consumer's Guide to Reverse Mortgage Options and other
information on the Home Keeper Program
Consumers Union ( http://www.consumersunion.org/ )
- There's No Place Like Home: The Implications of Reverse Mortgages on Seniors in
California , August 1999
National Center for Home Equity Conversion Mortgage
http://www.reverse.org
Housing and Urban Development (HUD):
Counseling Clearinghouse (1-800-569-4287)
Annuity Resources
- AnnutityTruth.org: The truth about purchasing annuities for
older adults. Offered by Health Care and Elder Law Programs Corporation (H.E.L.P.)
|
