Reverse Mortgage, Elderly Homeowner With Dementia May Be Recipe For Family Disaster

In Denver, Colorado, KUSA-TV Channel 9 reports on the story of a woman who finds out that not only was her elderly mother suffering from dementia, but that her mother obtained a $200,000 reverse mortgage on her home some time back and ended up going into foreclosure.

Jose Vasquez, an attorney with the non-profit group Colorado Legal Services, a non-profit legal services firm for low-income and elderly Coloradans, says for seniors who have a lot of equity in their homes should be cautions when refinancing. He suggests that children of elderly people keep track of their parents' activities.

For more, see Woman urges others to keep close tabs on elderly parents' financial affairs (read story) (watch video).

Go here , go here , and go here for other posts on elder financial abuse.

Go here for stories related to Reverse Mortgage Problems. xero elder financial abuse zebra