The older couple that have the rental house they are upside down on and their personal residence is payed off and they have lived in for over 50 years in colorado.

The rental is rented for less then the payment and the house has to high of a loan
to sell, would list for more then the loan amount

Do you know if in Colorado they would take the paid off personal residence and other items? The residence is worth $80,000 and the wife owns half. She is not on any of the rental houses not on title and not on loan . The homestead act protects $45,000 of the residence Could the son purchase the father,shalf and the mother remain on her half which would be $40,000.
The purchase would take the father off the title and the mother would be on the title with half belonging to the mom and half would be the son's would this save the home?

They could pay off other debt with the $40,000 would this work?

He has a pension from a factory could they take his pension in colorado or any
part, does any one know?

They are good people they where trying to help out one of their kids and let them use a power of attorney and even though the daughter did not mean to get them in to this situation , the economy went all crazy her young daughter died and every thing fell apart.
Leaving the daughter and her kids homeless and the parents in this bad situation. The daughter is not to stable and the situation bad.

They have no money and really honestly can not pay an attorney.
The son will have to take out loan to buy half the house. Any one have any thoughts on the pensions and the residence ?