Retirement home controversy - WALB.com, South Georgia News, Weather, Sports

Retirement home controversy

Elenor Davis, Resident Elenor Davis, Resident
Wadene Smith, Resident Wadene Smith, Resident
Walter Kelley, bankruptcy attorney Walter Kelley, bankruptcy attorney
Residence Residence
Patrick Flynn, Residence Attorney Patrick Flynn, Residence Attorney
Seasons Christian Center on Ledo Road in Albany is where these folks have called home for many years.

A bankruptcy leaves an uncertain future and these residents say they are at the mercy of the courts.

“It looks like we are going to lose everything, everybody going to lose their home and the money they invested in it," said Elenor Davis, Resident at Seasons Christian Center.

Wadene smith and her 90 year old sister have lived here for 17 years.

“I invested everything that I had when I sold my home and I even had a lawyer look at the contract,” said Wadene Smith, Resident at Seasons Christian Center.

Many of these folks gave the Eidenire family who owns the 148 unit property 100 thousand dollars believing they would own their homes.

But that is not what the attorney for the family's company, Lamad, says the contract states.

"The contract clearly says they did not purchase it they don't have a security interest in it. You don't own it you have a right to stay there when it was sold you would get a certain percentage of that money back," said Walter Kelley, bankruptcy attorney.

The Eidenires borrowed a lot of money to turn the old Terrell county hospital into a nursing home.

They put up a radio station, the property in Dawson and Seasons Christian Center as collateral.

But the Dawson property never opened.

“Ironically it was approved this year for permitting but it was just too late,” stated Kelley.

Kelly says the property was up for sale for months but there were no offers so bankruptcy was the only option.

"Not only can we liquidate this property quickly and efficiently but what is the best way to liquidate it to get the most amount of money for these individuals," said Patrick Flynn, residence attorney.

On top of the investment the residents pay 400 dollars a month for maintenance fees and pay their own utilities.

"We don't understand where the money could have gone because he was paid cash for all the homes you could not move until you paid," said Davis.

These residents are asking for prayers and hoping the courts and the new owners will allow them to stay for a reasonable amount of rent so they can live out their lives peacefully.

Copyright 2014 WALB.  All rights reserved.
Powered by Frankly