With the nation's current inflation crisis, and the prior Covid pandemic, so many people have lost jobs, and are struggling to keep their homes or investment properties. I want to help by creating an online platform where people can turn to for urgent financial assistance to reinstate their mortgages. Day in and day out I receive emails from MLS providing auction dates, while I imagine families cry as they have no one to turn to for help. Lawyers are expensive, traditional lenders won't lend due to the customer's poor credit, and then they are left with having to sell their home, many times for less than what it is worth, or if they are desperate enough they are pressured into accepting extremely expensive and risky bridge loans from predatory lenders. I want to help stop that.
I come from humble beginnings. My parents came to this country in the 1970s. After my parents got married, my mom worked in various factories over the years. While on the job she had a needle go straight through her eye in a coat stitching accident and another t-shirt packing accident crushed her arms and hands. My father is a life-long fisherman and he suffered life-threatening accidents as well. They began saving up money to buy a house. In the 1990's, they ended up owning 6 multi-family properties. When the recession of the 90's hit many of my parents' tenants lost their jobs, fell behind on their rent, and so my parents had no choice but to evict them. Past due rents caused my parents fall behind on their mortgage. They needed $40K to reinstate the mortgage. They didn't find anyone who could help them. Banks that once used welcome them with open arms turned their backs on them because their credit scores dropped. Friends and family weren't able to help, lawyers had them file for bankruptcy, but it wasn't enough to save their properties. They lost everything they had worked so hard for. After that major financial loss, they never were able to fully recover and they were always hesitant to start a new business endeavor.
The financial devastation that happened to my parents back in the 1990's has occurred to countless other Americans over the years. Some have been able to recover, while others have not, and that is a sad reality. I want to change that. I want people to get back on their feet and not give up hope. Through this online platform, people will be able to help others through crowdfunding. Although there are other crowdfunding sites available that offer financial help, my website will focus only on those who are being threatened by banks to foreclose on their investment properties, as there are no avenues available at this time for this category of people. I have found that most financial assistance exists for either LLCs or owner-occupied properties, those who have investment properties under their own name such as sole proprietor "mom and pop" small businesses have no help, at least that is how it is in my state of Massachusetts. Will you join me to make this a problem a thing of the past?
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