I found an email in my junk mail folder that was from my mom.  I opened it, it had a link that I DID NOT click on.  The email address wasn't hers but it said it was from her. Question: Did she just get hacked or has her identity maybe been stolen?

elkman, that's tough to answer without access to your or her system but more than likely, someone is spoofing her email address.   Check and see if anyone else in her computers address book received the mail too. If everyone in her AB got it then that's probably what's happening.  I doubt it's a case of stolen identity as sally when that happens they go after credit cards, make online purchases, etc. Tell her to CLOSELY monitor any CC's and bank accounts for ANY suspicious activity and if she sees ANYTHING, immediately cancel the cards and get replacements issued.

Also as a precaution, she should probably change all online passwords.

Is she in a highly populated area and does she use her system wirelessly?  If so, what protection protocol is she using for the wireless?  WEP, WPA, WPA2? 

Really difficult to tell remotely but my suspicion rests with email spoofing.

In re-reading, you say "the email address wasn't hers". I missed that earlier. If that's the case, then you can probably disregard everything I said above. I can send an email saying I'm Clark Kent....

Thanks for the help Steve! Yeah, I got to thinking that I can set up an email account using any name. I appreciate the help!