Our members, a husband and wife, had struggled for years with high‑interest credit cards and other financial issues. At the time, they were living with his mother‑in‑law. By the end of 2023, the mother‑in‑law had only made three mortgage payments and was facing foreclosure.
In September 2023, the husband was home when he received a letter from the sheriff’s office. He called in very stressed and did not understand what it meant. The mother‑in‑law needed to come up with $6,000 to save the home. A week later, that amount increased to $9,000. The members were able to help their mother‑in‑law with about $6,000, which used up their entire savings and more.
In early 2024, the mother‑in‑law stopped paying the mortgage again. The members were devastated to hear this and were extremely nervous about losing the home they had lived in and maintained for several years. Their long‑term goal had been to purchase the home themselves. With the foreclosure process starting again, we decided to see if they would qualify for a mortgage loan.
The members were approved and closed on the mortgage. One month later, we were also able to restructure the loan to pay off high‑interest third‑party loans and credit cards. The member has since rebuilt his savings and no longer uses credit cards or third‑party lenders.
