Sharper Than A Serpent’s Tooth
August 13th, 2008 by 
reality
Some of the saddest anecdotes that I have read relate elderly people being evicted as a result of foreclosure, even though they have lived in the house for many, many years. Of course, the problem is refinancing. Elderly parents seem to have often allowed their children to borrow money, using the parents’ house as collateral. And then the child defaults, for one reason or another, and the elders cannot afford the payments.
Posted in Debt, Fixed Income, Real Estate, Retirement, Rogues and Rascals | 