Image via WikipediaThe biggest problem for children in a foreclosure is moving. This involves changing schools. Lifelong friendships are broken, and familiar and loving teachers are gone.
A new school although it might be welcoming and warm, it doesn't have the feel of their old school. At the old school the students knew the way around the cafeteria. They knew which crowds to sit with, and which to avoid. For an athelete, the gym was home territory.
Grades decline when students change schools because of a foreclosure. Children blame themselves for the foreclosures and other financial shortcomings of their parents. Many will compensate by working part time. Some might even drop out of school and work full time.
Nevada has suffered a lot in recent years. It leads the nation with the highest unemployment rate, as well as the highest foreclosure rate. It is no doubt that we will have a generation of children in Nevada that will be damaged economically and academically.
The Kids Count survey found that 11% of teens in Nevada were not in school and had not graduated from high school in 2009. The survey also discovered that Nevada had 34% of children living in a family where both parents were not working in 2009.
The highlights of the survey says that children from low-income families will be raised in an unstable environment. It further stated that these children will not be gainfully employed.
Although this scenario might not be describing your child, you have to be aware of the larger picture. This picture includes higher health costs, higher law enforcement costs and higher welfare costs. This means higher taxes.
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