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Can My Mom Sign a Reverse Mortgage Even Though I Have Her POA?
I just learned that my elderly mother signed a reverse mortgage while I was her agent under a durable power of attorney. Is there anything I can do?
Probably not. While a durable power of attorney gives you the power to act for your mother, it does not take away any of her rights to make her own financial and legal decisions. If you believe your mother was not competent to make decisions on her own or was hoodwinked, there may be steps you can take to reverse the transaction, but they have nothing to do with the durable power of attorney being in place (except that it gives you the power to act on your mother’s behalf now). If you believe that your mother was a victim of financial elder abuse, click here for information what to do about that.
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