I agree with a lot of the sentiments here.
Personally, I'd tell them to throw it at retirement.
Why?
Because it's obvious they haven't really thought about it until now and by earmarking it, they are taking a huge psychological step forward.
Yes, it's probably better number wise to retire the c/c consumer debt but they need to realize that time is not their friend now and it's running out.
Good luck.
PS: I don't know how they could get a mortgage. . .I know if I was a lender, I wouldn't give your parents a dime of money. Sorry to be harsh but I think it's time for everyone to start being realistic.
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