Senior Facility Bankruptcy Leaves Elderly Residents Stranded and Financially Devastated
Originally Published 6 months ago — by New York Post
An 89-year-old widow on Long Island lost most of her savings after paying nearly $1 million for a retirement home that went bankrupt, highlighting the financial risks faced by residents of failing continuing-care retirement communities (CCRCs) across the U.S., which have collectively lost over $190 million since 2020 due to bankruptcies and inadequate protections.