Equity Access Group Spotlights Financial Tips for Seniors on World Elder Abuse Awareness Day

EAG promotes senior safety this June 15, urging awareness of financial abuse and offering safeguards in reverse mortgage lending.

SAN DIEGO, CA, UNITED STATES, June 9, 2025 /EINPresswire.com/ -- With World Elder Abuse Awareness Day approaching on June 15, Equity Access Group (EAG) is calling attention to the growing threat of financial abuse targeting seniors. As a leading provider of jumbo reverse mortgages for individuals aged 55 and up, EAG is reinforcing its commitment to protecting vulnerable borrowers through education, oversight, and mandatory independent counseling.

Elder financial abuse is one of the most common and devastating forms of elder mistreatment. According to the National Council on Aging, older Americans lose an estimated $36.5 billion each year to financial scams, fraud, and exploitation. Perpetrators may include strangers, acquaintances, caregivers, or even family members. And while cases often go unreported, the emotional and financial damage is irreversible.

“Reverse mortgages allow seniors to have access to hard-earned equity, but unfortunately that also puts a target on their backs.“ Says Jason, CMO of EAG. “That’s why we’ve built protections into every step of our lending process to ensure clients benefit from these loans and remain safe from fraudulent actors.”

Identifying the Red Flags:

EAG encourages seniors, families, and advisors to be aware of common warning signs of financial abuse:

1. Pressure to act quickly or sign documents without time to review
2. Sudden involvement of new or unknown individuals in financial matters
3. Large, unexplained withdrawals or missing money
4. Changes to wills, trusts, or powers of attorney under questionable circumstances
5. Emotional red flags, such as anxiety, fear, or confusion around financial topics

It is challenging to identify these behaviors, particularly when a senior exhibits isolation or excessive trust. EAG stresses the importance of early awareness and proactive safeguards.

How EAG Helps Protect Senior Borrowers:

To prevent abuse before it happens, Equity Access Group mandates third-party HUD-approved counseling for all reverse mortgage applicants before any paperwork is signed.

This one-on-one counseling process provides:
1. A neutral explanation of loan terms in plain language
2. A safe, confidential space to ask questions
3. The opportunity to identify and report undue influence or pressure

EAG supports these sessions by providing clear educational materials ahead of time, encouraging family involvement when appropriate, and following up personally with every borrower to verify satisfaction and security.

Leading with Integrity:

Equity Access Group’s focus on jumbo reverse mortgages provides a different perspective. Many clients have significant home equity, often more than $1 million, and the loans available to them is substantial. While this presents a significant opportunity, it also carries significant risks.

Beyond counseling, EAG trains its team to watch for signs of distress or manipulation and to take action when something doesn’t feel right. Whether that means pausing an application, involving additional oversight, or recommending legal guidance, EAG remains committed to borrower safety above all else.

A Call to Action for June 15:

In support of World Elder Abuse Awareness Day, Equity Access Group joins advocacy groups nationwide in encouraging open conversations about financial protection for seniors. The company urges family members, caregivers, and professionals to check in regularly with aging loved ones and to learn more about the risks and signs of exploitation.

About Equity Access Group:

Equity Access Group is a top provider of reverse mortgage solutions, offering both standard HECMs and jumbo reverse mortgages. EAG is committed to personalized service, and they provide financial education to help seniors maximize their home equity for a more secure retirement.

Jason Nichols
Equity Access Group
+1 888-391-4324
info@equityaccessgroup.com
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