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Afternoon Shift

Reverse Mortgage scheme targets elderly on South and West sides

Dozens of African-American seniors from the South and West sides were preyed upon by a mortgage broker in a reverse mortgage scam, according to several lawsuits. The broker, Mark Diamond, and other home repair and mortgage companies have fleeced nearly $1.3 million in equity from the homes dating back to 2009, leaving the seniors, many on fixed incomes, with higher debt than before they met Diamond. Jeff Kelly Lowenstein of the Chicago Reporter tells us more.

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