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Mom whom is 80 and I 46, went for a loan, we first refianced with the bank who has our note for over 17 yrs, so the first prime lender did not want to lower the interest and they did it, after being told by her and I that the new obama law states lower rates, well, we did refinance successfully. Then she wanted to get a home equity line of credit, to fix up the house so me, my brother and I can live there with her, the home equity line is with a small lender and is for principle only. After she gave them all the paperwork..she had an argument on the phone with the lender, (I was not there when this happened). The bank called APS and I feel is retaliating against her for not doing the loan..They are trying to say when I spoke to them today that they are investigating the issue (what issue she did not want the loan after we both talked about it) I feel they are harassing her now..and she is getting so upset
The APS wants to interview her and myself. and they said that before it goes to the DA. What the hell is going on?
Is this a scam tactic from the bank? and retaliating for not closing on the loan?

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As POA, I was told that I can sign several ways for any of my moms business (including checks-just have to allow bank to retain cc of POA 1st). Can sign "her name" by "my name", POA. OR: sign "my name", POA for "her name". I have a small joint account for my mom-at credit union- they said would not be reported as my income, only as hers. She had very small inerest earnings from that accountant SHE, not me, rec'd a 1099 form showing that small amount of interest income. I do know if SSA is involved, you don't want your name anywhere near anyone elses money. Continue w the good record keeping and inceased value of moms accts. And if me? I'd change banks, hate to be treated badly! Good luck.
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As someone else stated, banks do call APS and APS does speak to parties individually. My grandmother, who is 89 this month, is struggling with making her signature on her checks legible. As her POA, I accompanied her to the bank. I told the bank that I cannot be added to the checking account for the simple fact that her checking account would count as my income also which would result in Medi-Cal dropping my sons health insurance. I was trying to find solutions for my grandmother, while balancing my responsibility to my son, and inquired about being able to sign her name for her, an ink stamp with her signature etc. The bank lady stood up, said loudly "I cannot do business with you" and left grandma and I sitting there. It was all rather surreal. Several days later APS shows up. Yes, banks can and do call APS. There was zero evidence that financial elderly abuse was occurring, because it wasn't. Under my POA I had almost doubled my grandmothers checking account balance. My brother kindly stepped into the gap and he, grandma and I all went down to the bank again. Same lady. Mind you, I've been totally exonerated by APS, who were not pleased their time was being wasted. Bank lady glared at me and treated me with the maximum amount of contempt she could muster without being called out on her behavior. While she had a problem with me insisting I could NOT be on grandma's account, she had no problem with my brother insisting that he HAD to be on the account. Makes no sense whatsoever. Meanwhile, grandma had contacted the bank on three separate occasions during the week and told them her handwriting was poor and the bank insisted that whatever signature she could scribble out would be fine. Then the bounced checks for "irregular signature" began to arrive. My brother is still trying to get the bounced check penalties repaid by the bank, one of them was for $140. The bank did not act honorably with my grandmother by telling her they would take her scribbley signature and then bouncing her checks. She spoke with them on 4 separate occasions in the space of a week. APS should have investigated the bank for financial elderly abuse with their hundreds of dollars of bounced check fees. My advice? Document, protect yourself legally and bring a witness when conducting financial bank business. As an aside, all hospice workers that provide in home care services are required by law to report any irregularities to APS. This includes the nurses, the bathing aides, the hospice case worker, the Chaplains, the pre-bereavement counselors and the volunteer workers who provide respite for the caregivers.
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I applied for a small home equity loan a number of years ago (25K) to consolidate some debt. The advertised interest loan was affordable. The banker came back with a Line of Credit for 40K.
When I hesitated, he explained that the Line of Credit was based on the value of the house, and had to be that large to receive the lower interest rate. He also explained the difference between a loan and a line of credit:

A loan would pay for something immediately and then be paid back in time.
A home equity loan is line of credit available when you need to use it, for a certain number of years.

In my case, I had a 25 year Home Equity Loan, which allowed me to use and pay back for 15 years, with the last 10 years set up for pay back only. It has been very useful for home repairs and other things. If the larger amount scares you, then set a limit for yourself on how much you will allow yourself to borrow at any one time. You may have a roof to replace, so you borrow and pay that off, and when another need arises, the funds are available at the same low rate to use again and again.
These loans do take discipline, but are useful.
Research the subject at your library so that you have some background into the subject, then go to a trusted banker and ask lots of questions. Perhaps you should check with the first bank to see what they offer.
Good luck and thanks for being such a loving daughter.
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It sounds as though her partner of 30 years is the person worried about her being taken advantage of by her children and I suspect that's who called.
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Are you sure it is the bank that called APS and that this is about money?

Maybe someone misinterpretted her "I don't want this loan!" as an indication that someone else (you?) were trying to force her into it ... ???

Whatever the case, now that APS has a report they have to investigate. It should be No Big Deal. Stay calm. Tell the the truth. No Problem.
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thank you all, I was unaware of the aps agency and it is helpful to know that there is someone there, who monitors these things
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Well it just sounds like your mom has considerable assets so they are just checking to make sure everything is ok... good luck...
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I am not sure, who did it, it may be my sister who has been estranged from all of us for at least 15 years, who she resided with my father, now deceased. The aps person mentioned that equity loan...I believe she went a little nasty on the phone with the bank people and they must of got nervous..as I just talked to her about her conversation with them
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Mary~As long as you and your mother did not sign anything for a loan of $100, they can not hold you to it. As JeanneGibbs said, let APS interview you both. It will be dropped quickly. I can see why you are suspicious of a scam. Are you sure that it was the bank that reported it?
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I spoke with my mother and she did talk to the aps person on the phone and told the aps person she was upset they way it was all handled with the bank and at this time she does not want the loan nor back in may/june when she inquired...I think the bank could of been more accomodating to her and not have so many people dealing with her and her loan...I just got suspicious as I thought it was a scam...
It has been a bad month as my fathered died suddenly (divorced) and I was concerned over our properties and the aps upsetting my mother, she is sensitive
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to add no she does not support any of us, she resides with partner of 30 yrs and they are very happy and independent, she recently did her coop over and her condo, she has multiple properties, she wanted to fix the property that I owed jointly with her, as my brother, with our agreement lives there, I live eslewhere...she wanted to fix it up for a summer home as it is on the water...
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ok, as we always did all of our stuff together..I think when she got excited that the loan was for 25k and they sent her a letter saying it was for 100k she called the bank and told them, she was not okaying the 100k and did not want the loan..it was a mess and they were sloppy faxing her stuff everywhere and different people handling it, which she did not like, the prime lender when we refinanced we dealt with one person only
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It is normal for APS to talk to your mom privatley.... they are only doing their job, but this is every caregivers nightmare.... as was suggested, just tell the truth. Of course it is upsetting, so instead of getting paranoid, be grateful there are people out there, APS, who are looking out for our elders best interest..... let us know what happens.... hugs.
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Do you have any other family members who may be upset that you and your brother are living with your mother? Do you both work or is moms income supporting all 3 of you? These are questions that you may need to answer. These people at aps are very good at what they do. You really sound baffled about all of this. So just tell the truth and I'm sure it will be fine. That's the only reason I can think that the bank would dare call is over the jobs issue? Good luck to you!!!
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Let APS interview you and Mom. They'll quickly close the case. I don't know how there could be a scam ... APS has nothing to gain no matter what happens or doesn't happen with a bank loan.
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The bank may have called APS because of your mother's age and they want to make sure she is acting on her own behalf. That is the only reason I can come up with. It sounds like the bank has over reacted and it may be their policy. I am sure nothing will come of this so try to relax. I understand your concern but you have nothing to worry about since you have done nothing wrong. Someone else on this site will probably have more information to share with you (someone who knows more about this than I do). Keep us posted as you find out more information!!
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we are joint tentants on all our properties, is this a scam to try to get our house?
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I do not know, who called, I am assuming it was the bank and they are investigating for financial exploitation or something like that..the aps guy was very shady..he spoke with my mother and did not want me to hear, as I really believe it was the bank covering their end..when she got upset on the phone with the lender
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What was the specific complaint that got APS involved? And do you know for sure that the bank is who called?
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My mother is of sound body and mind, and physically very healthy. She runs circles around most people if this helps
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