I was told I had to buy an annuity or an investment product to get a HECM reverse mortgage. Is this true?
No. No one can require you to buy a financial product to qualify for a HECM reverse mortgage. If a lender or broker tells you that you have to buy something (such as an annuity) to get a HECM reverse mortgage, this is probably a scam.
If you have a problem, submit a complaint online with the CFPB or call (855) 411-CFPB (2372).
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