Digital News Report – On the Oprah Winfrey Show, they showcased families that were about to lose their homes to foreclosure. One family has watched their income reduced dramatically. Another is a single mom that can’t make ends meet. Both are faced with losing their home to foreclosure, but that was until Will.i.am paid off both of their mortgage loans.
Oprah announced Will.i.am from the Black Eyed Peas to the viewers and audience. Oprah told the families that he is paying off both of their mortgages. Will.i.am explained how he had a dream to buy his mom a home and then he did. Last year he wanted to buy his aunt a home and he did. The families were extremely grateful for the mortgage loan payoff and Will.i.am saving their home from foreclosure.
Will.i.am announced his iamhomefund.org website on the show. The ‘I Am Home Fund’ is an organization to help homeowners that are at risk for losing their home. Will.i.am has put some of his own money in the organization, but he is also asking for donations for the organization to help others. He said that a lot of people right now are losing their homes because there aren’t any jobs available.
Besides the generosity of Will.i.am’s organization, there is another way to avoid foreclosure of your home. Obama’s government loan modification program has been helping homeowners to refinance an existing home loan to lower interest rates, lower monthly payments and also to lower the amount due for the home loan that has to be paid back with a mortgage loan forgiveness on part of the amount. To learn more about the Making Home Affordable program at www.makinghomeaffordable.gov.