Throughout Southern California
View Our Practice Areas

Mortgages are a Big Source of Senior Complaints

The Consumer Financial Protection Bureau was launched by Obama after the financial crisis.

The Consumer Financial Protection Bureau recently published an article on common financial complaints of the elderly in "A snapshot of complaints made by older consumers."

Mortgages, both traditional and reverse, were a big source of complaints.

Older Americans often have difficulty dealing with lenders, especially when any changes are made, such as when a mortgage is being taking over by a different servicing company. Credit cards were another frequent source of complaints, since older Americans have found it difficult to resolve billing disputes, ID theft and being signed up for unwanted services.

Finally, dealing with banks was also a source of many complaints. Older Americans have had problems with account management, after a spouse passes away and getting banks to recognize powers of attorney.

This list of common complaints to the CFPB can be used by elder law advocates and elder law attorneys to determine what areas they should focus on, when they try to educate senior citizens about potential problems.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Find Out The Difference That Experience And Expertise Makes

Get the peace of mind that you deserve. First, attend a seminar. This will entitle you to a free initial consultation and a discounted estate planning fee. To learn more about our services or sign up for a seminar, contact us online or call us at 866-402-1805. We have offices in Torrance, Orange, Newport Beach, Pasadena and Woodland Hills.

Questions? Contact Us.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Call Now For A Free Consultation: 866-402-1805
  • ${site.data.firmName}${SEMFirmNameAlt}
  • Main Office: Torrance

    Torrance Office
    990 West 190th Street
    Suite 500
    Torrance, CA 90502

    Toll Free: 866-402-1805
    Map & Directions

    Orange Office
    333 City Boulevard Street
    17th Floor
    Orange, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Newport Beach Office
    5000 Birch Street
    Suite 8000
    Newport Beach, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Pasadena Office
    790 East Colorado Boulevard
    9th Floor
    Pasadena, CA 91101

    Toll Free: 866-402-1805
    Map & Directions

    Woodland Hills Office
    5850 Canoga Avenue
    4th Floor
    Woodland Hills, CA 91367

    Toll Free: 866-402-1805
    Map & Directions

    Office map