Children could be prevented from realizing their potential in school and eventually in the labor force as consequences from home foreclosures endure for years, a Federal Reserve official said recently. “A foreclosure is likely to mean not only a loss of home, but also a disruption in where, or whether, kids are in school,” said Eric Rosengren, president of the Federal Reserve Bank of Boston, at a Fed conference in Washington about neighborhood stabilization. “Since foreclosure is often related to unemployment, marital stress, or physical ailments, the foreclosure is likely to make it difficult for even the most determined student to excel.” Rosengren added that he is encouraging staff to look at how children are affected by foreclosures.
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