Over 50% of Elder Financial Abuse Cases Involve Own Family Member

In today’s MarketWatch Reality Q&A, the sad but true fact is underscored: Over half of thisElder Financial Abuse.jpg country’s elder abuse cases involve a family member, not shady “mortgage professionals.” The column indicates that sons are most likely to scam their parents or grandparents, more so than a fraudulent contractor/handyman or paramour.

This doesn’t mean that senior citizens should trust all lenders suddenly. Make sure that the senior that you’re concerned about understands the terms of the loan and the pros/cons of going through with the loan before s/he signs on the dotted line. Reverse mortgages rank as the 8th most prevalent scam targeting the elderly.

About Kevin
Kevin Coluccio was recently named one of the Top 10 Super Lawyers in Washington State. He has long history of successful elder abuse/neglect cases and has a stellar reputation for getting results for his injury clients in serious car crashes, pedestrian accidents, trucking accidents, maritime claims, and asbestos injury cases.