Helping Children Weather A Foreclosure Crisis

According to a recent study on the impact of foreclosure, children are one of the largest and most overlooked victims of the housing crisis. One out of every ten children in the United States will be impacted by foreclosure.

Julia B. Isaacs of the authored the report, which revealed five years into the housing crises, 2.3 million children have lost their homes to foreclosure, and 3 million more are at serious risk of losing their home in the future. For more information on how to get a loan visit In addition, approximately 3 million children were evicted, or may face eviction, from rental properties.

Child victims of foreclosure tend to do worse in school and socially because of the financial pressures facing their family.  Below are a few things homeowners can do to help their children cope with the stress of foreclosure:

  1. Have a candid but age appropriate conversation with your child about foreclosure. If you’re facing an imminent foreclosure don’t leave your kids in the dark. Let them know what to expect and when to expect it. If you think you will need to move, make the kids aware of it well in advance of the move date, consider services you can save money on moving with them . This will help them make an easier transition.
  2. Try to keep their school life consistent. Even if you need to move because of foreclosure, try to keep your child in the same school at least until the school year ends.  Also, help them stay in touch with neighborhood friends by arranging play-dates after you’ve moved.
  3. Avoid arguing about money in front of the kids. One of the leading sources of marital strife is financial; but arguing about finances in the presence of your children can add to their stress.
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