December 5, 2012 § 3 Comments
With the real estate market continuing to decline, homeowners are faced with the discouraging reality that their home has significantly lost value and many struggle with the fact that they now owe more than their home is worth. To make a bad situation worse, there are some con artists that are using the opportunity to take advantage of elderly homeowners.
“Current real estate market conditions have opened the doors for financial elder abuse by obtaining property through undue influence or fraud,” says Elizabeth Ernster, an attorney with Ernster Law Offices, P.C., in Pasadena, California (www.ernsterlaw.com). “The unfortunate reality is that many seniors are being swindled by real estate agents who have convinced them into selling their home for less than its market value, and then making a large profit off the sale.” « Read the rest of this entry »