In part two in our series, âGreed is Now Respectableâ we visit again with Attorney Prescott Cole, employed by California Advocates for Nursing Home Reform based in San Francisco, California. We discuss what a reverse mortgage is and the grave and potential economic and social consequences to which purchasers of a reverse mortgage are exposed. We talk about annuities, what they are, what they cost, and why an annuity is a poor investment for seniors. We include a discussion of how Veterans eligible for aid benefits have been lured into giving away their assets in an attempt to become eligible for the aid benefits.
Attorney & Counselor Barry Vogel, Host and Producer; Christina Aanestad, Assistant Producer. Ukiah, California www.radiocurious.org
In part two in our series, âGreed is Now Respectable,â we visit again with Attorney Prescott Cole, employed by California Advocates for Nursing Home Reform, or âCanhr,â a non-profit agency based in San Francisco, California. The goal of California Advocates for Nursing Home Reform is long term care, justice and advocacy. Their website, canhr.org, has sections on Elder Abuse and Elder Financial Abuse, Medi-Cal for Long Term Care, Finding a Nursing Home, Lawyer Referral, among many others. Their Canhr phone number within California is 800 474 1116, and outside of California it is 415 974 5171.
Our conversation with Attorney Prescott Cole was recorded from his office in San Francisco on June 9, 2011. We discuss what a reverse mortgage is and the grave and potential economic and social consequences to which purchasers of a reverse mortgage are exposed. We talk about annuities, what they are, what they cost, and why an annuity is a poor investment for seniors. We include a discussion of how Veterans eligible for aid benefits have been lured into giving away their assets in an attempt to become eligible for the aid benefits.
We began our conversation when I asked Precott Cole to tell us about reverse mortgages.
The books Prescott Cole recommends are those written by P.G. Wodehouse, about Jeeves the Butler.
This interview was recorded on June 9, 2011.
Greed is Now Respectable Part 2: Reverse Mortgages
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