Peter and Diane Hata have lived in their Covina, California, home for 37 years. Now the equity they built over those decades is the one thing preventing them from filing for bankruptcy after scammers posing as FBI agents stole nearly $850,000 (£672,000) of their retirement savings, IRA funds, and a home equity loan.
Bankruptcy attorneys told the couple they do not qualify for protection precisely because of what their house is worth, according to a GoFundMe page set up by friends. The couple is now struggling to keep up with monthly interest payments on the loans the scammers persuaded them to take out. Diane has since been diagnosed with depression and anxiety.
