Reverse Mortgage Loan Blog

Former Southern California mortgage broker John McTaggart was sentenced Friday to six years in prison for defrauding an 86-year-old San Francisco woman out of $140,000. The woman signed up for a reverse mortgage from an Orange County company; McTaggart, an employee, persuaded the woman to sign over $140,000 from the reverse mortgage promising to invest it. Instead he deposited the money into his own bank account and quit his job, prosecutors said.

Found here.

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