[sophiaAmoretto]

A little while ago I saw a note on our door saying that we would be for closed on April 27 but I didn't really know or care what it meant. But yesterday I heard my mom crying and talking to my dad about how we were being for closed and how he got laid off. I asked them and they won't tell me. What does this mean?

[ScottGem]

Foreclosure is when you haven't paid your mortgage and the bank that holds the mortgage wants to take the house back. I don't know how far along the process is. But posting a notice on the door, probably means its far along.

It could mean that you have to move out by 4/27. I don't know how old you are, but you should go to your parents and tell them you found out what it means and ask what you can do to help.

[sophiaAmoretto]

I'm 13 but why was my dad laid off and what does that mean. What did we ever do to them to for close us.

[ScottGem]

A layoff means that the company he works for doesn't have enough work for him. So he isn't earning a salary. As I said a foreclosure is when you don't pay your mortgage payments for a long time. Your parents borrowed money to buy your house. This is called a type of loan called a mortgage. The lender takes your house as security for the loan. Apparently because of the layoff, they haven't had enough money to pay the loan so the bank now wants the house so they can sell it and recover the money still owed.

At 13 you should be old enough to know about these things.

[sophiaAmoretto]

Thank You

[ScottGem]

Good luck to you. I know this is a tough time for you and your family. But you need to band together to give each other strength to get through it.