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Nobody likes to think about having to take on the role of caring for their parents instead of their parents caring for them. Many times they are still home owners when this happens.
Just the term, foreclosure brings up feelings of fear and dread. No one wants to lose their house. You may have already heard the term, or you may fear hearing it soon as you’ve fallen behind on mortgage payments.
It’s come time to prepare to sell your elderly parents home. Everyone typically puts it off as long as possible, the cost of caring for them rises and in most cases, it’s inevitable that you’ll have to face selling your parents house.
Foreclosure is a legal process that a lending institution or mortgage company obtains ownership of your home, in other words, a repossession of the property.