http://www.aprilhay.com/"Why do we have to move?" Kids always seem to ask this question whenever there is a move from one home to another. We may fumble around with an answer that will make the most sense to them, but the reality is, there usually is no answer that will truly comfort and satisfy a child who is leaving the home, the school, the neighborhood and the friends that he or she has come to love. When the move is due to foreclosure of your Mission Viejo, Orange County home, the situation becomes even more difficult, especially if the child is an adolescent or teen.
So, what do we tell the young teen when we realize we can no longer afford to pay the mortgage and loss of the Mission Viejo home is inevitable? Chances are the tension over finances has already been the object of many discussions before the final news is delivered. Still, the fact that what was home will soon be something quite different is very hard for a kid to accept.
Older children can learn from life's difficult situations. I think it's good to be honest and open with them and let them know how difficult losing a home is to us as parents. Using it as a life lesson is more valuable to them than trying to protect them from the truth. Eventually, friends and neighbors will know when the foreclosure sign goes up in front of your Mission Viejo home. Having a serious discussion with the children beforehand will help them know we trust them and understand how they will be affected.
In my recent experience working with leases, I have seen that landlords know short sales and foreclosures are happening much more frequently. When looking at applications and credit reports, they are not necessarily going to deny the lease because you have gone through a foreclosure. What can help is to have a credit report that reflects you never stopped paying all your other bills on time. If the delinquent house payments are isolated occurrences from the rest of your bill payments, it shows the landlord and his agent that you have maintained a level of financial responsibility in every area except the mortgage. It shows you care about paying your bills. Sometimes a homeowner heading toward foreclosure will delay paying utility and credit card payments in order to get the mortgage payment paid. This is not always the best plan because once the short sale or foreclosure happens, not only are there nicks on the credit report for the mortgage, but also on all the other accounts. This can make everything more difficult.
If your goal is to get the kids through the school year, research the steps of foreclosure to determine how you can delay the process so you won't need to leave until summer. Kids rarely relish moving, but by explaining the reasons and causes, they may be more supportive of the need to move.
