Actress Angela Logan after playing many roles off-stage to earn a living had done great with mortgage apple cakes. It was when she fell into foreclosure on her Teaneck, New Jersey, home.
It was a flash of desperation,” Logan said. “I thought, ‘Wow. We could sell these cakes, they’re so good.’ ”
Logan named her delicacy Mortgage Apple Cake and determined to sell 100 in 10 days at $40 each to meet a mortgage payment, pay off bills and qualify for a federal program that could lower her monthly payments. The only marketing she did was to advertise the cake to everyone she knew, including her classmates.
“The hardest part was saying, ‘Can you buy my cakes, this is my problem,’ because admitting to your friends that you’re in foreclosure, and that you need their help, that’s a hard thing to say,” Logan said. She figures she’s baked about 200 cakes, i.e. double her goal. And since qualifying for the federal Make Home Affordable program, her monthly mortgage payment is dropping by nearly 20 percent
Other Americans facing a financial crisis can also find creative answers to their cash crunch, Logan says.
Many hobbies have the potential to produce extra cash: teaching a skill like playing an instrument or speaking a foreign language; home repairs for those who are handy; even dog-walking or pet-sitting for animal lovers. So try out something new if you’re also facing financial situation like Logan. Be creative and do your best, you’ll find out a way!
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