Mortgage Protection Plans…Can Possibly Save Your Home
…In this issue>>>>>>>>>
--When you get laid off – new tools at our site
--Group in VA helps families to start over with
--Mortgage Protection plans can save your home
Three months after George Mackey lost his job…he didn’t lose his house because of a mortgage assurance program backed by the Rainy Day Foundation, a non-profit group headquartered in Washington, D.C.
The foundation made Mackey’s next four $1,400 mortgage payments and is likely to make two more.
“It’s unbelievable,” he says. “I wouldn’t have my house anymore if it weren’t for them.”
Chances are you never heard of the Rainy Day Foundation.
Until a few weeks ago, neither had I. If you’re ready to buy a house or refinance your mortgage, you should know about the foundation.
“Our goal is to help homeowners maintain homeownership,” says CEO Rick Del Sontro.
The Rainy Day Foundation rolled out its Homeowner Education and Loan Protection program (HELP) about 19 months ago. HELP is only available when you buy a home or refinance a mortgage. You cannot enroll on your own. The program is paid for by participating lenders, builders or real estate firms.
More than 125 companies across the country have partnered with the foundation. Most are local or regional lenders. But a number of big banks, including Wells Fargo, SunTrust, Flagstar and National City, also take part.
Who’s Looking Out for You?What to do when you get laid off-New Resource page
The most heavily trafficked portion of our site is our JobResources page, which is updated weekly. We just added a new ‘sub’ section with resources you can use if you get laid off. Worth sharing with others.
>>>Note: pay particular attention to the new group being formed to foster better government and corporate policies for putting Americans back to work (info at the end of the layoffstrategies page). Still in the formation/startup phase, RehireAmericaNow.org
will be seeking volunteer board members, suggestions for direction, donations and more.
I can’t think of anything more important in this economy than putting people back to work! I’m already on board as an advisor.
Giving Families a Fresh Start
A decade ago my wife and I had a small ‘ministry’ if you will that the YWCA dubbed the bread and butter ministry. We donated boxloads of household goods and food items to the Y for which they used to set up apartments for struggling mothers…now, Suezette Steinhardt has taken that a step further.
Steinhardt, a former social worker in Vienna, VA became dismayed over how many young mothers worked at dead end jobs but were still unable to make ends meet, no matter how many jobs they worked.
She and her husband started out by renting an apartment for one young mother, stocking it with necessities and more to help a young woman in need. They gave up some of their own social spending to come up with the cash. The couple has now helped 16 families get a fresh start and has started a non-profit group called Family Preservation and Strengthening Services (Family PASS). A network of her friends helped her get started with cash donations and by providing office space and other tools they needed. I personally believe that’s what it will take to restore this country – people helping each other and not relying on government. To learn more about her organization, go to:
Money Saving Tip
If you have children returning to school, you know the cost of those school supplies adds up. Aside from shopping at dollar stores, many states are offering tax holidays to meet your back-to-school needs. Most occur during August. Check this site for more…
Yours for better living,
Bruce ‘the Poor Man’