American Homeowner Preservation Aids Atlanta Homeowner Rebounding from Nation’s Unemployment Epidemic
Chicago, IL (PRWEB) August 18, 2014 -- July marked the eighth consecutive month that the country’s unemployment rate remained under seven percent, but there are still millions of citizens struggling to regain their footing after the recession. American Homeowner Preservation (“AHP”) is using real estate crowdfunding to provide impact investing opportunities that assist struggling homeowners who have been ravaged by the recession. This past week, AHP provided a mortgage loan modification for an Atlanta homeowner who found his family facing foreclosure after he and his wife both lost their jobs during the unemployment crisis.
Fifteen years ago, Dennis and his wife were expecting their first child. As the couple prepared to start their family, they decided to enter the market to purchase their first home. They eventually found a house in a neighborhood with a welcoming environment and people who looked out for each other and fell in love with it. They appeared to be on their way to achieving the American Dream.
After securing a place to live, Dennis focused his efforts towards finding the level of employment that would allow him to provide for his family in the manner he desired. Dennis had been told time and again he needed a college degree to get ahead in the world, so he went to school and earned his Bachelor’s degree in Business. Yet once attained, Dennis found that his Business degree did not open new doors for him, so he went back to school and earned a Master’s degree in Health Care and Administration.
Yet even with his advanced degree, Dennis could not find a job to match his qualifications. By day, Dennis worked for the state of Georgia in the field of health and human services and worked a night shift at a furniture manufacturer. Dennis was not earning the type of income he desired, but was happy to have work. Then, when the recession hit full throttle, things began to unravel for Dennis and his family.
“When the building bust happened I was working the night job at a furniture manufacturer and they got rid of that shift because nobody was buying homes, people were losing homes,” Dennis said. “By that time, my wife lost her job as well. From that point on, we kind of just got in a whirlwind, and got behind on everything.”
Dennis’s mortgage was sold to so many different lenders over the years that he struggled to keep track of it. Dennis attempted to reach a mortgage modification with multiple lenders, but had no success. The walls began to close in on him as he witnessed his neighborhood transforming and felt that he would lose his home to foreclosure. “The economy changed the neighborhood overnight. People were losing their homes, people were vandalizing properties, boarding up properties and things of that nature,” said Dennis.
The mortgage on Dennis’s home was eventually purchased by AHP and he received a letter in the mail stating that he had several options to help keep his family in their home. In working with AHP, Dennis was able to settle years of delinquent payments for $2,000, reduce his monthly payments from $527.54 to $250 and can now settle his previous principal balance of $107,506.95 for just $21,850.
Dennis was thankful AHP provided him the opportunity to avoid foreclosure when many others in his same situation could not. He believes that AHP can play a significant role in helping others who share similar circumstances and can reduce the spread of foreclosure across the country. “If you guys continue to do what you’re doing it’s going to benefit a lot of people who otherwise wouldn’t be able to keep the American Dream going.”
American Homeowner Preservation is a socially responsible investment fund manager which empowers accredited investors to purchase equity in pools of distressed mortgages and earn returns of 9-12%. For further information or inquiries please visit http://ahpinvest.com or call 800-555-1055.
Verria Kelly, American Homeowner Preservation, https://ahpinvest.com/, +1 (800) 555-1055, [email protected]
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