Foreclosures Theaten Elder Care Facilities

Financial : Foreclosures Theaten Elder Care Facilities

A wave of foreclosures of eldercare facilities threatens to evict  hunderds of elderly residents in different parts of the country. That's the conclusion from a New York Times study, "When Foreclosure Threatens Elder-Care Homes".  The worst part of the news is that the owners of these facilities, many of them small, are not required to inform their residents that they have fallen behind in their payments and might be subject to foreclosure. In several instances the first that residents or their families learned about the problem was when the sheriff arrived to present eviction papers.  As well might be imagined, the trauma of an elderly person being forced out of their care giving arrangement and home without warning or alternative readily availalble is considerable.

For more details check out the New York Times report.