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Unless your parents are the scum of the Earth, there really is no reason for them to want anything in their older lives. Especially parents of children who are/were child stars. It may be hard to fathom what a parent of a up and coming child star may go thru as that parent. I would imagine a lot of sacrifice is made on the part of the parents, so that their kids can attain the heights of stardom.

from contactmusic.com

MARY-KATE and ASHLEY OLSEN’s father has filed for bankruptcy and is facing foreclosure on his California home, according to a U.S. report.

David Olsen, who fathered the billionaire twins with his first wife Jamie, has fallen behind on payments for his property in Tarzana and owes the bank almost $2.2 million (£1.47 million).

According to documents obtained by the National Enquirer , the stars’ dad and his second wife MCKenzie will be forced out of the house on 9 July (10) if they fail to settle their debt and the property will be sold off at a public auction.
But it’s not the first time Olsen Sr. has faced financial difficulty – he reportedly struggled to cover his tax debts last year (09) too.

An insider tells the Enquirer, “David almost lost his home in 2009 because he had several tax liens but managed to borrow enough money to cover them. But he’s in a worse position now because he’s behind on mortgage payments and won’t be able to stop the auction unless he gets his hands on $2 million.”