Want to Avoid Foreclosure? Listen to Mom

Academic data has shown time and again how important parents are in modeling good financial habits that affect their children's adult lives. New research shows that goes for housing-related finances as well.

A story today in DailyFinance.com reports that adults who said they received a lot of parental teaching around money management as children had a lower risk of loan delinquency and foreclosure compared with those reporting little parental teaching. Adults who learned more about money from Mom and Dad also had higher credit scores and lower credit card debt.

In short, what your parents taught you as a child wasn't just "because they said so." This Mother's Day, thank your mom for not only giving you life, but teaching you how to keep a roof over your head!

More information for parents and teaching kids about money can be found at the Federal Reserve's education website and Prosperity4Kids.

More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.
Read Full Story

Can't get enough real estate news?

Sign up for Finance Report by AOL and get everything from celebrity homes to renovation tricks delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

Find a home

Buy
Rent
Value
Powered by Zillow