Compton sister steals $300k from family and forces home into Foreclosure

Yesterday we met with a Compton Family who is currently 60 days in default.  Another story of a family member smelling money and letting the greed take over.  We seen so many of these situations where one member of a family steals money or equity from another and forces the house into foreclosure.

The owner is the widow of 8 kids with only two of them living with her currently.  3 years ago her husband passed away and left her and his kids the home and over $300k in a retirement account he had for them. While he was dying of cancer,oOur client’s sister, who had never been active in their lives before, got wind of what he was leaving his kids and ultimately convinced our client that she wasn’t capable of managing $300k for her 8 kids.  Unfortunately our client, is a little off or as her daughter describes “a bit Gullible”.  Thank goodness her daughter is overseeing her affairs now.  So the sister got guardianship of our client and when the husband passed away took over the accounts and the payments on the house.  In a matter of 2 years she completely depleted the funds, stopped paying the house and left the entire family with nothing.  I mean how could you live with yourself after something like that.  And the family we met with was so calm about it.  They tried suing her with very little money which didn’t go that far.  Now they are in foreclosure with nothing else but what little equity they have left.

The house needs a lot of work but is located in a decent part of Compton, so there is some good potential for their sale. We are going to help them rehab it and partner with them on the eventual sale.  We will assist them in their relocation and help them secure a new place.  They will make enough to help them with the next chapter of their lives!