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What is the FACOP Program for Seniors? Understanding a Common Mortgage Scam

According to the Federal Trade Commission, mortgage scams are a persistent issue, with bad actors often impersonating government programs to defraud homeowners. Many older adults have been targeted by unsolicited offers for a supposed “FACOP Refi”. It is critical for seniors to understand that there is no legitimate "FACOP program for seniors," as the acronym is a marketing term used to promote fraudulent or misleading mortgage schemes.