As a result of the COVID-19 crisis, many Americans are struggling with financial instability and uncertainty. For homeowners, this can mean falling behind on mortgage payments and facing foreclosure. If you’re facing foreclosure, it can be a stressful experience, especially for children. If your family is in this situation, consult the guide below to determine how to talk to little ones about foreclosure.

4 Tips for Explaining Foreclosure to Your Kids

1. Stay Calm & Collected

Young children pick up on their parents’ anxiety, so it’s important to keep calm when speaking with them about the topic. While it’s fine to be honest and tell them you’re sad or disappointed about having to move, try not to distress the kids by appearing panicked. When speaking to them, use a calm and relaxed tone and reassure them that the family will stay together throughout the ordeal.

2. Provide Honest Age-Appropriate Information 

Consider the ways in which your child will be directly affected by the foreclosure and address these factors honestly, providing as much information as you can. For example, if the move means they will have to go to a new school, let them know so it’s not a surprise and they can say goodbye to their friends.

If you’re temporarily moving in with family or friends, make sure they know if they’ll have to share a bedroom or get used to less privacy in general.

3. Keep Them in the Loop

Make sure your little one knows you’re available to answer questions at any time and that you’ll provide them with updates as circumstances change. For instance, if your child asks if they’ll be able to see their neighborhood friends again, let them know that they can still have playdates and spend time with their pals despite living in a new location.

4. Offer Reassurance

Reassure your child that they are safe by discussing what will happen next. If you’re going to stay with relatives, for example, explain to your child that they’ll be living with their grandparents or aunt and uncle for a while. Even if your next move is a temporary one, it’s important to let children know that they’ll always have a safe and comfortable place to live.

If you're facing foreclosure, get in touch with Padgett & Robertson, Attorneys at Law. For more than 40 years, these seasoned bankruptcy attorneys have been providing individuals and families throughout the Mobile County, AL, area with manageable and effective options for debt relief, including Chapter 7 and 13 bankruptcy and foreclosure paperwork. Visit their website to learn more and call (251) 342-0264 to schedule a free consultation today.