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Gypped by a relative

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SORRY TO start off your week with a couple of sad stories, but these stories beg to be told. Mind you, they are true stories, which happened here in Manila recently. Story 1 A widow in her sunset years has a small house and lot in her name. That is her only asset and it was given to her by her late husband. The widow entrusted the land title to her daughter for safekeeping, who kept it in her own home she shared with her husband. The husband has a good accounting practice and put up a small restaurant-bar. Over the years, the business did not prosper as expected. One day the widow received a document from the bank saying that her house and lot will be foreclosed. Without her knowledge, her son-in-law used the land title and forged her signature to get a loan from the bank. His wife did not know about it too. In the end, the widow had to vacate her own house. She then spent her remaining years renting a small home with her daughter, who by then had separated from her husband. She died penniless. Story 2 A young single mom in her 20s borrowed money from several relatives, saying she needed money for her son's tuition and other expenses. Concerned relatives extended help. At a family get-together, someone remarked that she saw the young woman at a mall the other day with a handsome man, and they were shopping. Then someone said she and her boyfriend are frequent casino visitors. One concerned relative brought up the matter to the young woman's own mother, who was shocked to hear the news. Confronted, the young woman owned up to the debts to other relatives, which ran up to six figures so far. Worse, the guilty young woman confessed that she is neck deep in debt, and that she doesn't know how to pay for the bank loan, which was secured by the family's land title. It turned out she forged the necessary signatures and was able to secure the loan without her parents' knowledge. The parents have started paying off their daughter's loans to relatives, and hope they will be able to pay off the bank loan. The mother has been crying and couldn't believe this has happened. Do you know where your documents are? These include land titles, certificates of time deposit and other forms of investment, and the like. If you don't know where they are, don't stop looking until you find them. Sometimes they can get into the wrong hands... right in your own home.

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This page contains a single entry by Karen Galarpe published on September 1, 2009 7:43 PM.

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