My Dad Borrowed $50,000 and Paid Me Back. Why Was It a Complete Disaster?

Borrow or Loan money from family

Here’s an unusual story: A woman lends a relative a boatload of money. He pays her back. In full. With interest.

End of story, right?

Wrong. Read further.

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Would You Lie to Help Your Family Avoid Foreclosure?

Lie in a short sale to avoid foreclosure

Here’s a recent email I received from Linda in St. Louis (not her real name or homeland, of course):

I bought your book last month and have given it to a friend, who will share it with her sister. My best friend could have used it ten years ago. Amazing how many stories there are.

She shared her own tale and later we spoke at length about how her close family relationships were destroyed by money.

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Update – Powerful Power of Attorney

Elder financial abuse victim who gave power of attorney to daughter

It’s almost a year since I met with Daniel. He wrote me recently with a detailed update on the story about his elderly mother and scheming sister Amy.

Abuse of her power of attorney

Their late father’s estate was opened and slammed shut by the Probate Court because Amy claimed Dad had more debts than assets and no joint bank accounts. But Daniel says he’s got evidence to prove that Amy blatantly misused her power of attorney to channel money to herself, and their parents had joint checking accounts for many years.

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