Help us assist desperate homeowners!
Currently, the mortgage crisis and economic slow-down are affecting millions of homeowners all across America. According to a survey by the Mortgage Bankers Association, over 900,000 households are currently in the foreclosure process, up 71% from one year ago. That figure represents just over 2% of all mortgages, the highest rate in the last 36 years.
Another 381,000 households, or just under 1% of borrowers, saw the foreclosure process started during the quarter, setting another record. In addition, the number of mortgage borrowers who were over 30 days late on their payments is at its highest rate almost 25 years. The problem is that it’s predicted to get worse. A recent ABC News report indicated that some 3 million homeowners would default on their mortgages this year, and of those, about 2 million will actually lose their homes to foreclosure.
One of the principles we teach is, “No matter how much you earn, spend less.” Unfortunately, this principle hasn’t been embraced widely today. In fact, a recent report suggests that the average Gen-X-er, spends 25% to 40% of his/her income servicing consumer debt. Most adults are spending more than they earn every single month. While that might artificially inflate the economy in the short term, it doesn’t take a rocket scientist to know that in the longer term, it hurts us all.
We have decided to shift some of our focus at The Abundant Life Project (www.AbundantLifeProject.org) to help. That’s why we’re writing to you. We are reaching out to people facing financial crisis to help them turn their situations around. First of all, we want to help them avoid foreclosure or repossession. Secondly, we want to aid them in developing a clear plan of action to correct their current financial circumstances and/or crises. Finally, we want to help them challenge their beliefs and behaviors about earning, spending, saving, and giving. We cannot, however, do it without the assistance of corporate givers like you.
Will you consider making a financial contribution to this ministry of encouragement so that we can help hurting homeowners dig out of the hopeless situations in which they now find themselves? The Abundant Life Project, Inc. is a 501(c) 3 tax-exempt organization. All contributions are tax deductible.