Problems selling a home are plaguing homeowners, but it’s not the only issue facing the housing market. If you’re a senior and you own your own home, you are more likely to be targeted for a home-related scam, according to the FBI. And with the number of…

Problems selling a home are plaguing homeowners, but it’s not the only issue facing the housing market. If you’re a senior and you own your own home, you are more likely to be targeted for a home-related scam, according to the FBI.

And with the number of reverse mortgages (also known as a home equity conversion mortgage (HECM) increasing more than 1,300 percent between 1999 and 2008, there are significant opportunities for those inclined to perpetrate a home-related fraud.

I had the chance to speak with Peter Bell, president of the National Reverse Mortgage Lenders Association (NRMLA), and ask him about reverse mortgage scams. According to Bell, these scams generally involve people who look to “basically defraud the seniors out of the money after they have the reverse mortgage. Very few are related to getting the actual mortgage.”

Unfortunately, in the majority of cases, these scams involve someone related to the senior.

The FBI reports that in many of these reverse mortgage scams, victim seniors are offered free homes, investment opportunities, and foreclosure or refinance assistance. Seniors are frequently targeted through local churches and investment seminars, as well as television, radio, billboard, and mailer advertisements.

The elderly are also...