Saturday, December 27, 2008

People Losing Their Homes

During better times, I tried to help several distressed families save their homes from foreclosure. However, due to the collapse of the housing and stock markets, I am now paying a huge price for my generosity that I never expected. It is I who now needs help.

I worked hard all of my life and saved for my retirement. I have always been a very honest and generous person. (Check out some of my articles.) When my financial world was going well, I tried to help several distressed families save their homes from foreclosure. My plan included purchasing their homes and putting them back into the them as renters under the condition that they get their problems under control and buy back the homes from me within a certain period of time.

This plan failed miserably. Some of these people were not able to overcome their problems, which were mostly due to the miserable economy over the past couple of years. They lost their jobs and were not able to find work with suitable earnings to catch up with their rent. To keep from losing these homes, I have had to pay the mortgages, taxes, insurance and maintenance from my resources (savings and credit, including loans and credit cards). I have literally lost many thousands of dollars.

I have borrowed to the point that I can no longer borrow, and have gone through much of my life savings. I am stuck and am financially and emotionally frustrated. I cannot keep up with the mortgage payments and the delinquent taxes. I have fallen behind on everything. It is a constant battle with the banks.

Due to the housing and stock markets crashing, I now owe more on these  homes than they are worth. Some need repairs, which I am having trouble making. I would sell these houses if I could, but I am stuck with them and they are ruining my life.

I tried helping people in their time of need, but I am now stuck with more grief than I bargained for. I have sought help but no one can or will help. There is only public help for primary home ownership.

Most of these families are decent and have children and are trying desparately to hang on to their homes. They are afraid they may be on the street eventually. They did no wrong; they are just victims of the failing economy. They need help until they can get back on their feet. Without more resources, I cannot hang on much longer. If you care to help, use the “donate” button at the top. (If you are reading this outside of my blog, please go to I will share any information with you that you require. I would also be willing to set up any terms for reimbursement of your donation if desired when and if things get better.

The attempt to help needy people has gotten me way over my head in debt, and caused me to use up most of my life savings. I could use help. God bless you if you are financially blessed and can find it in your heart to join me to help these families. However, if you cannot afford it, please do not donate.

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