Short Sales vs Foreclosures: the Children

Short Sales vs Foreclosures the ChildrenWe were recently troubled by the findings of a research paper authored by Julia Isaacs of the Brookings Institute for the organization First Focus which was titled The Ongoing Impact of Foreclosures on Children. In the report, Ms. Isaacs quantified the number of children that have been impacted:

  • 2.3 million children have already lost their homes to foreclosure
  • 3 million additional children are at risk of losing their home

She also noted the four ways foreclosures may affect children negatively:

  1. Families receiving foreclosure notices are much more likely to move than other families. Children who move frequently do less well in school.
  2. Homeowners receiving a foreclosure notice are under a lot of financial and psychological stress. Parents under financial distress sometimes engage in harsher and less supportive parenting.  This can lead to negative behaviors on the part of children, making it harder for them to interact well with peers and in school.
  3. Foreclosures have a negative impact on physical as well as mental health, with studies finding higher rates of non-elective visits to emergency rooms and hospitals in ZIP codes with the highest foreclosure rates.
  4. Children living in or near foreclosed homes may suffer the consequences of living in neighborhoods with more vacant houses, higher crime rates, lower social cohesion, and a lower tax base.

The Official Journal of the American Academy of Pediatrics just published a report on the impact of the housing crises on child abuse. Their conclusion:

“Multicenter hospital data show an increase in pediatric admissions for physical abuse and high-risk traumatic brain injuries (TBI) during a time of declining all-cause injury rate. Abuse and high-risk TBI admission rates increased in relationship to local mortgage delinquency and foreclosure trends.”

If you find that one of your clients is at risk of foreclosure, explain their options. The new National Mortgage Settlement might give them a pathway to stay in their home.

You can get information on the opportunities the settlement offers here.

In most cases, a short sale will be the better option for them and their children as they will be able to have some control over the moving date and the move itself. This will create a level of dignity in the move that will alleviate some of the pressure on the parents and as a result lead to more effective parenting.

To keep reading about Short Sales vs. Foreclosures visit the KCM Blog by clicking here.

For information about Short Sales and Foreclosures in the Tampa market contact an URBAN REALTOR® with SHELTER | Urban Real Estate at 813.951.0907 or by email at info@SHELTERtampa.com.

SHELTER | Urban Real Estate TampaSHELTER | Live Better.

Foreclosures: What About the Children (Part 2)

Happy Child PictureYesterday, we reported on the adverse impact foreclosures have had and will continue to have on the children of this country. Today, we want to talk about how parents can soften the effect.

If you can’t keep your house, you must decide how to leave and determine the impact of your decision on your children.

From a financial standpoint, short sales are always the better option. From a pure family situation (both your family and the families in the neighborhood), you must also make a decision.

If you allow your home to go to foreclosure, you have two choices: move and leave the house vacant or stay and wait to be evicted.

To continue reading the article please click here to the KCM Blog.

Copyright © 2012 Keeping Current Matters

For more information contact SHELTER | Urban Real Estate at 813.769.9371 or at info@SHELTERtampa.com

Tampa’s most expensive/affordable Colleges & Universities

College Cost PictureMany studies have looked at the earnings advantage in obtaining a college education. According to the 2010 census, Hillsborough County residents with bachelor’s degrees earned almost 80 percent more than those with a high school diploma. A national study by the Pew Research Center found that a college graduate earns an average of $650,000 more over the course of a 40-year career than the typical high school graduate.

While the rewards of getting a college degree are evident, the costs can be overwhelming. In fact, student loan debt topped the total amount of credit card debt in the country for the first time in 2010.  To continue reading this article please click here to the Tampa Bay Business Journal.

The accompanying slideshow ranks the Top 10 most affordable and Top 10 most expensive colleges in the Tampa Bay area, based on the Colleges and universities List published in the April 20 issue of the Tampa Bay Business Journal.

Tampa Bay Business Journal by Chris Erickson, Editorial Researcher.

To find out more about Tampa contact SHELTER | Urban Real Estate at 813.769.9371 or at info@SHELTERtampa.com 

SHELTER | Live Better.

Foreclosures: What About the Children? (Part 1)

Child Crying PictureWe were recently troubled by the findings of a research paper authored by Julia Isaacs of the Brookings Institute for the organization First Focus which was titled The Ongoing Impact of Foreclosures on Children. In the report, Ms. Isaacs quantified the number of children that have been impacted:

  • 2.3 million children have already lost their homes to foreclosure
  • 3 million additional children are at risk of losing their home

She also noted the four ways foreclosures may affect children negatively:

“First, and most obviously, families receiving foreclosure notices are much more likely to move than other families, and, … children who move frequently do less well in school.  To continue reading please visit the KCM Blog.

Copyright © 2012 Keeping Current Matters

Contact SHELTER | Urban Real Estate for more information at 813.951.0907 or info@SHELTERtampa.com

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