The livelihood of Americans has been affected dramatically by the housing crisis. After families have been displaced by foreclosure, many people have no other choice but to move in with family or friends. This will change the family dynamic drastically over the next few years, and has the possibility of both positive and negative affects over the long term.
On the negative side: No matter how much we love our friends and family, there can be deep emotional regret after foreclosure that can taint the household mood. Not only did you just lose the house that you loved, but you are moving into someone else's house, living by their rules and according to their schedule, and feeling that you could be a burden, no matter how sincere their offer to let you stay. This is the time to watch your own mood to ensure you do not slip into a depression or anything that looks like a "poor me" mode - instead, use this as an opportunity to reset and rebuild.
On the positive side: This gives family and friends a great opportunity to change the family dynamic. Homeowners who have had to deal with foreclosure often feel isolated - this is an opportunity to pull together to share responsibilities, feelings, and obligations. People coming together in a time of need is what community is all about, and financial education can be a tool that can further the position of not only the affected person, but everyone in the new household. Get together to create a new financial blueprint for the new household, and you will see how everyone involved can prosper.
This is a time where American communities must pull together to make it through this catastrophe. Do not be ashamed to reach out for help, and, if someone reaches out to you, lend a hand any way you can. If you need to move in with a parent, brother, friend or relative during the crisis, take advantage of the situation by making a concrete plan, including a timeline, to get you and yours back on your feet. Examine your finances, pull your latest credit report, make a spreadsheet of your debts, and put a plan into action.
Most of all, thank the person who took you in. Acknowledge the blessing, and be thankful for those who are there to help.
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