Thursday, February 28, 2013
Good afternoon, I was curious if anyone had read a recent article released on Feb 25 2013 titled: More wiggle room for student-loan debt? The CFPB is seeking more repayment options for private loans February 25, 2013|AnnaMaria Andriotis Here is the link to the article: Our nation is literally burying the younger generation in debt. While America may be a democratic country, we should review how to reign in various capitalistic influences so that young people have a chance to grow and spread their wings vs shackling them to debt anchors. College is suppossed to be a stepping stone along one's path to gain a deeper understanding of a chosen profession. Unfortunately, financial institutions have found ways to exploit the costs associated financing student loans. I am skeptical about the available avenues the Consumer Financial Protection Bureau may have in attempting to find various repayment options for private loans that student can actually afford. Banks know how to add fees and have a powerful lobby in Washington DC to protect their cash cows which student loans have become. On a seperate note. It sickens me when college president's get press complaining that they are not able to raise tuition costs high enough to compete to obtain top notch educators. Colleges tend to not accept the fact that they should also be limited raising tuition rates by cost of living increases only. If the Consumer Financial Protection Bureau is going to have any chance in limiting the growth of student loan debt, then they should be targeting the educational system and double-digit growth rates of tuition.
Tuesday, February 12, 2013
First and foremost, I would link to say "Thanks" to all who have expressed support toward Building America's Foundation's mission. You all are truly inspiring and make it easier to get going each day to move our mission forward. Secondly, I would like to apologize for being the worst blogger in the history of blogging. While I may have many years of banking and investment experience, it is quite obvious that I really need to work on my social networking skills. I am the kind of person who would rather talk in person or over the phone. My promise to you is that over 2013 I will make it a priority to update the blogs at least once a week and aim for twice a week. As businesses and people make donations and we are able to provide assistance,I will be posting more often. Now for the important news of the day. Our first formal fund-raising drive has begun. We had hoped to have our IRS letter concerning tax-exemption before having a formal fund-raising drive. Unfortunately, the IRS is backlogged on applications to process and our first approved recipient, Sheila Aay, has been formally notified by her bank that they have started the foreclosure process. Therefore, we are unable to wait any longer. Sheila has been battling breast cancer for the last few years. She underwent a double mastectomy in June 2012 and has been working on recovering since. While Sheila looks forward to returning to teaching special needs kids, she understands that she will need to wait until fall 2013 as her recovery is slowly progressing. We all can relate to Sheila. People working hard day in, day out many times living paycheck to paycheck. I have lost a few co-workers to cancer in my life. Each and every one of those people helped me along my path and touched me and my family. Saving Sheila's house from foreclosure is not the end all in her battle but rather a giant helping hand that lets he know that "We the people care". Please tell family, friends and co-workers and most importantly donate. Here is a link to our formal press release: http://www.prweb.com/releases/2013/2/prweb10409883.htm Together we can make a difference, Todd Schuerman- Founder
Thursday, October 25, 2012
Building America's Foundation is now officially open for business. America's home owners and college students and their families are in need of some real tangible relief and our non-profit is aiming to provide it. I must say that after years of development starting in December 2008 with the original website, payoffthemortgage.org. I am humbled to see my orginal vision of starting a charity to help homeowners to pay down/off their mortgages take shape. The journey since 2008 has been an interesting one. I have personally seen the unemployment line for about six months in 2009, to my wife, Laura, and I paying off our mortgage in July 2010. We have truly lived through the ups and downs, twists and turns our US economy has thrown at all of us. If it was not for owners of my last employer, Pacific West Securities, deciding to close their business, I may have not embarked on this journey to establish a non-profit, develop websites, complete state registrations and file the 1023 application (tax exemption-IRS). Please take your time checking out our flagship website:. Most important of all: Donate. We all may want a better world and to help others but the fact is donations are what make this all happen. Many people gave me their spare change and a few bucks here and there. Luckily, I was disciplined enough to apply the funds directly to our principle balance in order to pay down our mortgage balanceand ultimately own our home. I can only promise to apply every donation as wisely as possible in helping those according to our mission. Together we can rally around families in our communities to provide much needed assistance and relief. Please donate and tell your friends to visit the websites. Thanks for your support, Todd Schuerman Founder and CEO Building America's Foundation