Word matters

Source:Global Times Published: 2017/8/10 17:08:39

Illustration: Xia Qing/GT

"My apartment was worth at least 3,500,000 yuan ($520,268), but they sold it for only 2,800,000 Yuan."

So said a 58-year-old woman surnamed Gao, who pledged her house for a pension and was told later that it was sold. Dozens of senior citizens have had the same experience. They pledged their houses to a buyer and gave the mortgage to a man named Guang Yanbin for financial management. Guang cut off contact with the homeowners afterward and their houses were sold at a very low price, leaving these senior citizens homeless. Gao appealed to the court recently and hopes to invalidate the purchase contract.


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