When families are served with a foreclosure on their home it can take an emotional toll on a family. Besides the financial burdens that come along with it, the fear of not knowing where you are going only makes the situation more stressful. When you have children, it is extremely important that you speak with them about the pending foreclosure and let them know what is happening. Having an open conversation with them can help put you and your children’s minds at ease. When communicating with other family members, they might be able to provide assistance and a support system that will assist you with what’s ahead.
When breaking the news to your children you should have the conversation with them at an appropriate time. Scheduling a family meeting to discuss the situation is the best way to go about it. At that time you will have their full attention and it allows time to be able to explain things properly and answer questions the children may have.
During the conversation with your children it is important to be honest about the situation. While not having to divulge all of the details of the situation that led to the foreclosure, letting them know how it happened will only make it easier for your family. Explain to them that you are not alone as many families face this same situation and although it is very serious it is important that your family sticks together and supports one another.
It is important to discuss how their lives are going to change and what steps you are taking towards the future. Let them know that while the situation is tough now that things will improve in the future. When dealing with children it is important to remember that reinforcing the positive and not dwelling on the negative will only help prepare them for their future as well when they become adults. As a parent always remember that the things you do always have an impact and being open and honest will only help them grow as individuals.
While facing the possibility of losing your home because of your inability to make payments may be embarrassing, it is important to communicate what is going on with your family members as well. As with any devastating event, it is important to have a support system in place to help you through the process. As with your children be open and honest about the situation and communicate any changes that may come about.
Foreclosure is an unfortunate reality for a lot of families, but people find ways to make it through the tough times and move forward. The key to any strong family unit is communication and by being honest with those you care about you can survive any pending foreclosure.