Mom is being pressured to do a reverse mortgage. How can I stop this agent?

Yes, would love to know how this worked out.

Dear KatKat124,

I feel like a lot of us succumb to "pressure" from any type of working professional be it a car salesman, bankers, life insurance agents etc. All we have to do is look at advertisements and see all the methods that are used.
Years ago, we almost did a reverse mortgage for my mom but, decided against it since we were not completely convinced it was a good or right thing to do.

You say she had lowered her spending by 90%, you plan to sell and move within the next year and you are moving in with her - sorry but, you don't need to do the loan. These people know how to "manipulate" others and they are "manipulating" you and your mother. The oldest trick in the book is to see a lonely, older person - befriend them and they think they have it in the bag. The woman agent should not be acting in this manner. That's exactly how my mom ended up doing a ten-year annuity without my knowledge which came up for renewal this year. Since I'm now her financial power of attorney, I called the company and said I wanted to cash out and I put it in her money market.

Please go with your intuition and remember you "NEVER, EVER" have to agree to anything that involves your own personal money/assets. This is their livelihood and therefore they are good at the "hard sell" at your expense (literally and figuratively speaking).

You need to firmly let them know you are in charge and in control of the situation. I would firmly say (with no apologies or explanations) you are no longer in need of or interested in doing a reverse mortgage but, thank you for your time. PERIOD! turn around, leave and don't go back. End of story. Good luck!

If something is too true to believe, it truly is. We readers are concerned; call the police and an attorney. Thank you and I also want to know!

I am sure this "agent" works for a company. If so I would contact the company and tell them that she is crossing boundaries and that you wish her to no longer contact you (or mom)

is there any way you can get POA of your mothers financial matters? IF so......the "so-called" reverse mortgage agent can't do anything as you have the power then.  Also, I am sure there is someone that you can report her to, check with an elder attorney.  OR maybe better yet, meet with this woman by yourself and let her know that charges will be pressed for harassment of an elderly person.  I don't know all the fancy terminology but what that woman is wrong and shame on her for doing it.  She is only doing it because she will get a commission from the sale of it.  REPORT her.  good luck

HI, KitKat124,

We all want to hear back from you. Are you reading all forum's ideas reached out to?