A Power of Attorney can be revolkled at anytime. You need to do that at once.A POA is usually a family member. Why can’t you be your father’s? I’d also call a few agency’s and find a new caregiver.

ask the “caregiver” to justify his actions (your entitled) Also with a reverse mortgage there will be nothing to inhereit when Grandpa passes on (he’s spending it now) It’s the equity in the house

It is most likely that the timing of the reverse mortage was most propitious for your grandfather. He is in line to receive a stream of payments for his entire life based upon the higher than current property value.

There is no reason to suspect fraud in this transaction. The “caregiver” receives no direct compensation nor indirect financial incentive. I further suspect that your ‘caregiver’ may in fact be your grandfather’s ‘legal guardian’ or “conservator” if responsible for the reverse mortgage. I presume from the tone of your letter that you have no direct communication with your grandfather or his attorney. Sounds like your concerns may be in your grandfather’s estate value at his prospective time of death. It does not appear you can expect his residence to add to the value of his estate.

On the otherhand, your grandfather presently appears to have a steady income stream to assist in his monthly expenses thanks to the “reverse mortage”.

If your grandfather is being victimized, abused, shortchanged or being financially bled to death you should contact your local district attorney and open an investigation for elder abuse, undue influence or embezzlement by the “caregiver”. You could retain an attorney and file for establishing yourself as your grandfather’s legal custodian. If you have good cause, your costs will be reimbursed by the Court.

If you do not have your grandfather’s ear and confidence, back off before you find yourself completely written off for his remaining life and potential inheritance.

Maybe the appraisal came in higher than what you thought the property value was. Also, Reverse Mortgages involve a calculation of what the home will be worth when the borrower passes away. Furthermore, if the loan is in the form of an equity line, it will grow in value each year to reflect the general appreciation of real estate, last 2 years notwithstanding.

I would be wondering why this “caregiver” has POA. This should be given to a family member. I would be looking into this person’s past employment history for possible improprieties. There are a lot of cases where caregivers clean house (and I don’t mean vacuum) and then move on.