FORECLOSURE ANGEL Foundation- resource

[Shandi]

I just heard about this from a friend, and wanted to post it to share this incredible resource. This was on 20-20 a few days ago.

About the Foundation


The Foreclosure Angel Foundation was born when Marilyn Mock saw a need in November of 2008 to help her neighbor who was about to lose her home. With no where else to turn but the streets, their home went up on the auction block. Marilyn bought the home at the auction price and sold it right back to the owners at the now lower cost. Marilyn had a keen sense that “It could be me in that situation.” One major life change could rip her family from their home too.



Ever the optimist, Marilyn thought that others in her community who saw this need would surely step up and help. She took desperate letters from families losing their homes to a function where her friends and acquaintances had expendable income. Marilyn was shocked when they didn’t even want to see the letter, much less offer any help. At that point, Marilyn once again had another layer of her rose colored glasses ripped away, but this time she became determined. She believed that the American spirit of neighbors helping neighbors would win out. She knew that her new life mission would be to help her fellow Americans keep their homes when they had no other place to go.


Marilyn Mock
November 26, 2008

[Tom95472]

Is this Foreclosure Angel Foundation legit?? This seems a lot like some things a brochure from my bank warned me about. Scam's they warned about included testimonials. Best to run all by an attorney or your tax preparer. :hmmm:

[Shandi]

As I mentioned, this was presented on "20-20", and I would hope that they would have checked it out before putting it on their program. If not, and it is a scam, I'm sure we'll hear about it. I did some research on it, and saw a video on You Tube, which showed how it happened.

If you're losing your home to foreclosure, and someone offers to buy it, and sell it back to you with payments you can afford, I'm not sure where the scam part would come in. This originated in Nov 08, so I'm sure there would be some information on it, if it was a scam.

It's not a scam to buy a property in foreclosure. And it's not a scam to turn around and sell that for "more" than you paid for it, or even "less" than you paid for it.

It's always a good idea to have an attorney look over the paperwork, but this person didn't have the money to make the mortgage payments, so she couldn't have afforded an attorney. I'm sure that's the case with a lot of foreclosures.

Sandy




I just heard about this from a friend, and wanted to post it to share this incredible resource. This was on 20-20 a few days ago.

About the Foundation


The Foreclosure Angel Foundation was born when Marilyn Mock saw a need in November of 2008 to help her neighbor who was about to lose her home. With no where else to turn but the streets, their home went up on the auction block. Marilyn bought the home at the auction price and sold it right back to the owners at the now lower cost. Marilyn had a keen sense that “It could be me in that situation.” One major life change could rip her family from their home too.



Ever the optimist, Marilyn thought that others in her community who saw this need would surely step up and help. She took desperate letters from families losing their homes to a function where her friends and acquaintances had expendable income. Marilyn was shocked when they didn’t even want to see the letter, much less offer any help. At that point, Marilyn once again had another layer of her rose colored glasses ripped away, but this time she became determined. She believed that the American spirit of neighbors helping neighbors would win out. She knew that her new life mission would be to help her fellow Americans keep their homes when they had no other place to go.


Marilyn Mock
November 26, 2008