Buy Parent's Pre-Foreclosure

[Matthew Foucheaux]

I need help understanding the tax consequences of buying my parent's house pre-foreclosed home.  As far as deals go, it is an excellent deal for me.  I just don't know if there are additional tax complications since direct family members are involved.  Does anyone have any experience with this at all?  I'd like to save them from being foreclosed on as well as make a little money for myself.  The home is in Texas.

[Paul Bowers]

I don't have an answer on the tax question and don't want to sound too harsh but if you have the ability to buy the house why don't you just help them get current on their mortgage?