Legal aid agencies across Austraila say rising house prices is creating a new form of elder abuse, with children and grandchildren pressuring parents and grandparetns to act as guarantors for home loans.
The chairman of National Legal Aid, Graham Hill says agencies across Australia are calling for new safeguards to protect vulnerable older people.
In many cases, an elderly parent or grandparent often guarantees these loans without fully understanding that they are liable for the debt should the borrower default on the loan.
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