By Fredrick P. Niemann, Esq. an Elder Abuse and Financial Exploitation Attorney

I recently read a post involving an elderly widow who was persuaded to take out loans from her bank by telephone scammers who told her she won the Jamaican lottery.  She got the loans and ended up wiring almost $1 Million dollars (in about 21 wires) that the banks readily facilitated, to overseas accounts.  This was the money loaned to her by the bank plus a large percentage of her life savings.  One bank failed to record the mortgage in a timely manner.  About 3 weeks later she went to another bank and they gave her a 30 year fixed rate loan (she was a widow in her 80’s) at 8.99%.  Of course, they didn’t know about the earlier loan when they did their title search.  While she was alive, she tried to get the second bank to “modify” the interest rate loan to reduce it from 8.99% to the market rate of 4.5% to 5%.  That would have put about $400-$500 in her pocket each month.  She kept getting the runaround for about 15 months.  She kept a log of every phone call and email.  Then she died.  Her attorney was able to get a contact in the “Office of the President” for each bank.  They sent a letter to both banks (same letter) stating the facts of the case in great detail, sent them a copy of the log, told them where I thought their conduct was highly questionable, and telling them what I wanted.  It took another 10 months to finalize.  But the attorney was able to get the bank to discharge the debt for a relatively modest amount of consideration (and the other bank paid part of it).  Then the bank accepted a deed in lieu of foreclosure to her condo.  The combined benefit to the estate was about $250,000.  The lawyer wanted to sue the banks for the $1 Million, but research and case law indicated that the legal case was weak.

My point is that you can get something by dealing with contacts in the Office of the President.  But lower level employees are really relatively low level people who get their marching orders from others.  You just have to be patient, polite and persistent.
Contact me personally today to discuss your New Jersey elder abuse and financial exploitation matter.  I am easy to talk to, very approachable and can offer you practical, legal ways to handle your concerns.  You can reach me toll free at (855) 376-5291 or e-mail me at