Rent Skimming Scam Stings Would-Be Buyer Of Elder Care Home Under Lease-Purchase Deal With Owner; Leaves Unwitting Seniors Facing The Boot

In Northern California, The New York Times reports:

• Sometimes even the licensed administrators managing an elder care home have been blindsided by an eviction notice resulting from a mortgage default. Inocencia Arindaeng, the administrator of a facility in Walnut Creek, Calif., has said in court documents that this happened to her.

• She had signed a “lease to purchase” agreement with the owner of the property in 2007, according to court records, and diligently paid her monthly rent to the owner while caring for her elderly charges, who range in age from 86 to 97. The complaint said the owner did not use Ms. Arindaeng’s money to pay the mortgage. Ms. Arindaeng did not know the extent of the financial mess she was in until she and the elderly tenants she cared for received an eviction notice on March 18, 2009.

Source: Elder-Care Home Foreclosures, Without Warning.