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Politics : Formerly About Advanced Micro Devices

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From: tejek	7/20/2009 12:47:56 PM
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Watch video: Woman Bakes 'Mortgage Cakes' to Save Home Facing foreclosure on her Teaneck home, Angela Logan is navigating a difficult time like a true PTA mom. She’s having a bake sale. The 55-year-old actress, comic and divorced mother of three sons has spread word among her friends and Teaneck’s arts community: Buy one of my famous apple cakes and help save my house. Since coming up with the idea a week ago, Logan has received orders for 42 “mortgage apple cakes,” at $40 each. That’s nearly halfway toward her goal of selling 100 cakes by July 26, when an initial payment of $2,559.94 is due her lender under a federal program created to help homeowners in financial distress. … After meeting with a credit counselor, she turned to the Making Home Affordable program, established by the Obama administration to help struggling homeowners reduce their mortgage payments. According to the terms of her modified loan, Logan has to make three payments of $2,559.94 to Bank of America, which took over Countrywide, by Oct. 1. She thinks she’ll be in good shape if she can get past the first payment. news.aol.com

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