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Lauren Lemerisse is a single mom who learned about the intricacies of exotic financing the hard way, at the hands of a predatory lender. She received an Option Adjustable Rate Mortgage when she refinanced her property for sole ownership as part of a divorce settlement.  "The lender never explained the consequences of this type of financing," she said.

Lemerisse squeaked by to qualify for a monthly $1,000 payment. A loan adjustment that increased her monthly debt to $1,700 ate up most of her net income.

"I did everything I could to keep up with the payments. I sold my car to make a few mortgage payments," she said.  "I thought I was paying an interest-only mortgage. Instead, I found out that I was losing equity in my house every time I made a payment. After two years of paying a mortgage, I owed $7,000 more on the house than I originally owed."

She said the mortgage broker was underhanded. "He called me three days after I signed to the mortgage documents and told me that there were some papers that they forgot and that I had to sign them right away," she recalled. Those papers contained Adjustable Rate Financing Disclosures that spelled out the true nature of the loan.

It was time to look for help.  Her children were in a good school system and Lemerisse was determined to keep them there. She called local housing authorities and county agencies. My problems fell outside the province of local government agencies. "They told me, '˜This is a nonprofit agency that has been helping people.' They put me in touch with ACORN."

ACORN had a class action lawsuit against their lender and fortunately for Lemerisse, the lender had a foreclosure assistance program to help keep people from losing their homes.

"People don't usually contact lenders before they go into foreclosure.  They locked in a low fixed-rate mortgage for me with a monthly payment that is manageable. I am very relieved. The kids are doing great. I don't want them to find themselves in the same situation I was in. Education is important. I want them to attend good schools and now they have an opportunity to stay here and take advantage of the excellent school system here. I'm glad we don't have to leave.'

Fred Day is a member of the Sandwich Generation, struggling to support young children and parents in their 80s. His mother had dementia and he did his best to help. In 2004, Fred Day became ill. Unable to work for a year, he fell seriously behind on the mortgage payments for his Ohio home. He went back to work in 2005 at the same company he worked for 12 years and tried to regain his financial footing.

He called his bank and tried to set up a repayment plan for money that he owed them. "The bank wanted an astronomical figure," he said. "They were unwilling to take payments or enter into a forbearance agreement."

All signs pointed to foreclosure. "I went to bed and pulled the covers over my head. The pressure was overwhelming," recalled Day about the early days of his ordeal.

"I went to one counseling agency after another, but all they could do to help was offer budgeting advice. They did not offer direct help with a lender," he said. "I was in foreclosure for six months. The Lord works in wondrous ways and I got another list of numbers to call.

"Two days before the sheriff sale I called ACORN.  In 24 hours they worked with the bank and told me that the lender would cancel the sheriff sale if I could come up with $3,000. In less than a day we made a deal. I felt like a ton of bricks was lifted from my shoulders. I kept my faith that would be OK.

"It brought tears to my eyes. My prayers were answered," said Day. " put my faith in God. When you are in depression, you push your faith," reflected Day. " knew God had a plan. I just had to find it."