What are the housing options for my parents who are filing bankruptcy?
My parents are about to claim bankruptcy. This will only solve their problems while my father still works which will be about another year. Their Social Security won't cover their monthly requirements. If they don't require assisted living yet, what are their options for where to live? Unfortunately, living with me is not an option.
Although your parents are not yet ready for supportive housing, it is best to plan ahead. You should review the information on your state websites to find local programs such as HUD, low rent options for seniors and housing choice vouchers.
Even with low cost housing you have to be careful.
It's up to the owner of the property whether he/she leases or rents their property to them. They (meaning property owners) have you pay for a credit check. (in California). Most (meaning property owners) have high standards. Unless you find a slumlord.
Low cost housing and even Hud just regulates how much a property owner can rent their property for and or help to make property somewhat affordable by setting standards (how much a owner's property can rent/lease)for people that are low-income.
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