Young people, would you resent your parents if your house is foreclosed?

I am not a young person and I know that this is refer to them but don't you think is because your daughter friend was in a high role living and now is facing more realities of life that your daughter is comparing it. I don't believe that it is the foreclosing of the house seeing that your friend is still living in a house. But it is the standard of living which has changed. You must remember when you were young and the rich/middle class children have a role in school. Your daughter is being paranoid and I think it is best you talk with your daughter. Ask her what is the real reason why she is behaving like this. Whether you get the house from Government or Commercial banks if you are not paying your house will be foreclosed. Just talk with her. Maybe you can even look at the friends she also keep too. See if it is the high rolling friends or does these friends are mix. Your know poor/rich/middle class.

Hello wefallwerise, Don't argue with me when I say I am young. I am 49 years old but I still feel young. He he he. Anyway, the fear that your daughter feels is not really about the foreclosure or losing the house. Kerrianc is right. It is the fear of the possible shame that she will feel if you have to move out of your present house and transfer to a smaller one and that you will no longer be called "homeowners" but merely "renters." You can try putting yourself in her shoes. Feel the shame that she would have to face when she talks with her friends and classmates. Now, what do you do about it? Reassuring her will help a bit but not much. You see, there is this feeling of having a Damocles sword hanging over our heads. Why? Because it could also happen to us. Why? Because we are depending on our paychecks. What if we get downsized and we find ourselves looking for a job? My advice is for you to look for other sources of income, particularly the passive ones. A passive income continues to come in even if we don't work. I am not saying this is easy. This is a journey and it is likely that we will make the wrong turns and make mistakes. But we tend to learn more from our mistakes than from our successes. Don't be afraid to make mistakes. You know me and we have friends for a very long time. Join me the next time I play the Cashflow game. This game is a simulation of life and in my first game, I experienced being downsized. I experienced losing a job and having to pay the expenses without having a paycheck. But I was able to rise from that situation. I was able to get another job and then accumulate enough money through investments and then finally was able to get out of the Rat Race. This is the situation where my passive income surpassed my monthly expenses. At that point, I was financially free because I no longer needed to go to work! This is not to brag about it but many who play this game for the first time could not get out of the Rat Race. It is very difficult if not impossible to get out of the Rat Race when we use the employment mentality. You see, playing the game is worth it. I plan to play it a couple more times for me to really know how to go about it. But the next time, the game I will be playing will be Cashflow 202. This has more challenges but it will include more sophisticated investment principles. The game is done every Saturday. I encourage you to come. You see, the learning process never ends. It did not end when we graduated from college and neither did it end when we became professionals. Invest in your education, my friend. The most important education we need right now is education to make us "financially literate." This is not taught in school. Join me in this endeavor. We owe our children the assurance of a brighter future.