Children Affected by Foreclosures in Rental Properties

Over 3 million children in rental housing – and that includes apartments – have been affected by the foreclosure crisis.  Add to that over 5 million children who have been victims of foreclosure of houses.  Over 8 million children are having to deal with this issue, according to the article “The Ongoing Impact of Foreclosures on Children” by Julia B. Isaacs.

“Children living in rental housing undergoing foreclosure may face many of the same negative effects as children of homeowners, as their parents may be forced to move with little advance notice, and their neighborhoods may also enter into decline.  Renters often do not know of the financial problems of their landlords, and until recently, faced possible eviction with little advance notice.”

The negative effects of foreclosure may affect children in multiple ways:

• Children who move frequently do less well in school.
• Economic hardship can affect the supportive role of the parents, who may react in a much harsher way.
• Impact on physical and mental health of the child (more visits to emergency rooms or postponed medical attention).

Many of you may be housing families with children who lost their prior homes due to foreclosure.  It’s important that we keep on doing what we’re doing.  This article may give us a better understanding of how a child might feel when coming to live on our property.