Foreclosure and Short Sales News

If you are having trouble paying your mortgage, throw a party and let your friends help out. You can provide music, snacks, refreshments and use your imagination for activities. The cost to you will be minimal, while the benefits can help prevent foreclosure on your home.

In the first half of the 20th century, rent parties were used to help apartment dwellers pay their rent. Now in the 21st century, that idea has blossomed into “mortgage parties”.

The rent party concept was conceived in Harlem during the early 1920s. A 1946 film called “House-Rent Party” was promoted to show how people paid the rent by having parties and charging for access.

At $12 admission, house parties cost revelers less than an evening spent in a bar. “Even during happy hour that’s what, two drinks?” said Christina Dunham, 27, a guest who was laid off from Morgan Stanley in February. “You may as well spend it with your friends who can use the help.”

Having a cause made it more appealing, not less, she said. “It’s not just scenesters looking for the next big underground party,” Ms. Dunham said, “It’s people who care that you have a place to live.”

Source: New York Times