How are children affected by foreclosure?
In three ways, according to Senior Researcher, Metropolitan Housing and Communities Policy Center, Urban Institute, Kathryn L.S. Pettit, in a recent interview with NPR.org: Family turmoil. Even before losing your home, the stress that parents are feeling over their financial difficulties, qualitative work has shown greater levels of anxiety and depression among parents going through [...]
In three ways, according to Senior Researcher, Metropolitan Housing and Communities Policy Center, Urban Institute, Kathryn L.S. Pettit, in a recent interview with NPR.org:
- Family turmoil. Even before losing your home, the stress that parents are feeling over their financial difficulties, qualitative work has shown greater levels of anxiety and depression among parents going through this problem. So that can happen even before the move is the move actually occurs.
- Switching neighborhoods/schools. Dislocation can affect their educational progress and social development.
- Living in hard-hit foreclosure areas: Their families may not even be in foreclosure, but they are still being impacted by their surrounding area.
Pettit is the director of a project that examines how foreclosure affects children and schools in Baltimore, Washington, D.C., and New York City.
To view her comprehensive library of foreclosure-related studies click here.
Pettit’s research on “kids in foreclosure” is in the beginning stages; however, that should not diminish the importance of it. Children are often lost in the shuffle as their parents stress over finances and other provider-related responsibilities.
Her advice to parents going through foreclosure, or possibly headed down the path, is to avoid it at all costs. Reach out for assistance as soon as possible to eliminate the problem before it has time to grow roots.
Easier said than done, but sound advice nonetheless, whether children are involved or not.
