Orlando, FL -- (ReleaseWire) -- 01/10/2018 --If the global financial crisis of 2008 taught us anything, it is that foreclosures can happen to just about anyone. Although the economy has improved drastically since then, foreclosures are still incredibly common across the country.
The Social and Sustainable Community Development Fund (SASCDF) is working to help make foreclosures a thing of the past for homeowners. The organization provides principal reductions for non-performing mortgages, as well as one-on-one financial counseling to help homeowners stabilize their financial situations.
The advice and guidance offered has all been designed according to successful Chapter 13 bankruptcy methods to give beneficiaries the best possible chance of financial security in the future. The SASCDF is making a concerted effort to focus on communities that financial institutions have traditionally under-served that need the help most, like low-income families, women, minorities, and those who live in rural areas.
The SASCDF is a community development financial institution (CDFI). This means that their primary goal is to provide affordable, responsible lending for underprivileged individuals. In addition to housing, these types of organizations also finance small businesses and other community enterprises. Their responsibility is to their customers as opposed to their shareholders, although they do typically bring in a healthy profit.
The SASCDF works with homeowners, schools and businesses, helping them to avoid foreclosure and better the communities around them. By purchasing mortgages that are in trouble at a discounted rate, the organization can offer those in need new mortgages at rates they can afford. Ongoing financial guidance throughout the life of the loan ensures that they have the knowledge and tools they need to maintain a positive financial status.
To help the SASCDF achieve its goals of helping communities, the creators have launched a crowdfunding campaign on Indiegogo. The campaign has a flexible funding goal of $55,000 and will receive all money generated, even if the campaign does not reach its target. The funds raised will be used to obtain the CDFI designation. The money will also be used to launch a series of Real Estate Investment Trusts to help fund the organizations community betterment efforts.
Those who contribute to the campaign will be recognized on the organization's website and social media platforms. Those who give $100 or more will receive discounts on future investment opportunities with the SASCDF.
