I really feel for you in this situation. Family is all we really have in the end, and I can tell you are a kind and responsible person and you may not be able to live with yourself if you turn your back on your parents.
I agree with Marion10:
I want to offer some perspective as a 50 something- I know I would find it very stressful to move to a new culture and adapt. I think it unrealistic to expect them to be self supporting in a month and be able to work for decades-until they are in their 70s.
I also wonder how easy it will be for them to find a rental apartment if they have no income or credit history.
I think you need a contingency plan for the worst-case scenario:
- Assume they never sell/successfully rent the old house
- Assume your parents are unable to find/keep full-time work
- Assume they are unable to get credit or rent/lease a home on their own without a co-signer.
If the worst case came to pass what would you be willing to do? Where would you draw the line? Thinking about that ahead of time, instead of in the urgency of the moment will help.
I have a sibling who has MS and has no family besides me. Although at this time she still is earning income from work, if/when her disease progresses, she may need support. If my sister needed help I would move her right in with me, add a room on to the house, etc. I would make sure she always had food, shelter, medical care, and some fun times and companionship. However, I would not incur any credit/liability for example co-sign for a lease on an apartment or co-sign a loan.
I have a general rule to NEVER loan money to Family or Friends. I will GIVE them what I can afford to give at the moment, with no expectation of repayment.
When I am asked for a loan (usually by my sons), I always say something like, "no, I cant loan you money for an apartment deposit...but you can crash here while you save up for it." or "sorry, I cant commit to co-signing for your house - I need my credit to be perfect for a business loan I am applying for soon. But I can give your some cash as a gift towards the down payment." or "no, you cant charge that motorcycle part you saw online on my credit card...I have a low limit and need it to cover travel expenses. But if you have the cash now, I can help you put it on a debit card in your name that you can use online."