Posted by Nicole_NCali on 8/7/06 4:36pm
Msg #137519
Elder Abuse and Loans (long)
This weekend I felt violated. I was called to do a quick Heloc for an elderly man. He was 74 with a repayment of 15 years for a $30k heloc. What was really disturbing was his 30 something nephew standing over the paperwork. What was even more disturbing was the 1003 that listed this guy with $5k in pension and retirement income and savings of 25K. Hmmm, I have $25k in a savings account, why would I need a Heloc for 30k.
I don't normally get my panties in a snit until, I start ascertaining if this guy is aware and willing to sign the documents. When I had to explain for the 4th time that I was there for his loan (Heloc), and he still did not comprehend, I kindly packed up my stuff and ended the signing. The nephew (what a load) asked me why I was ending the loan, I advised him that according to my handbook, the person on the other end of the table must be aware of what he is doing and willing to do it.
This bastard starts complaining that I am the second notary who would not complete the signing and now he is going to have to take his uncle to MBE to get it done. I state to him " I have an obligation to also report to the Senior Ombudsman that this guy is signing legal documents" (I know, I know..I was bluffing him) He looks surprised and tries to backpeddle.
This situation still bothers me today, so I give a jingle to the senior ombudsman and the local senior advocate for contra costa county, they state that they will take my report, but the investigation will only begin if there is a pattern of abuse. What a load of crap. This guy in my opinion shouldn't be siging a thing, much less legal documents. I hate to see the elderly being abused by the people they trust the most. I hope that I am wrong, but my instincts scream that this is the case. I experience this first hand with my grandfather and other family members who abused him financially.
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Reply by Pamela on 8/7/06 4:56pm
Msg #137522
Nicole, Re: Elder Abuse and Loans (long)
Nicole,
Follow-up with a telephone call to Adult Protective Services.
Stay on top of it. It may take two or three calls for intervention
but it can be done. Who knows what type of other mental and or
physical abuse may have been imposed on this elderly gentleman.
I worked in the social work field for almost 20 years. Nothing surprises
me!
Pam
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