GREENPATH CLIENT NEWSLETTER
October 2009

GreenPath Benefits from Apple Cake Sales
New Jersey woman sells cakes to prevent foreclosure

GreenPath is excited to announce an alliance with Bake Me a Wish, an on-line gourmet cake company, and actress Angela Logan. Five percent of all proceeds from the sale of Angela’s now famous Mortgage Apple Cake will go to GreenPath.

When Angela was faced with foreclosure on her Teaneck, New Jersey home of 20 years, she turned a much-loved recipe for apple cakes into a moneymaker. After saving her home, and launching a new venture with Bake Me a Wish, Angela reached out to GreenPath in an effort to give back.

Angela’s story reflects what so many American’s are facing in these lean economic times. Logan was having a hard time finding acting jobs or her usual standby, substitute teaching. A string of unforeseeable events, including a botched construction job on her home and the sudden closure of one of her talent agencies, left her struggling to pay her mortgage.

As a last resort, Logan came up with the idea of selling her apple cakes. She named this family favorite Mortgage Apple Cake and set out to sell 100 in 10 days at $40 each. She had qualified for a federal program to lower her monthly payments, but was still left with a hefty payment to get back on track.

“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.

Logan advertised the cake to everyone she knew and they responded — enthusiastically and without judgment. Logan received so many requests that it was impossible for her to fill them all.

In a matter of weeks, the effort had spawned national media attention and a new business venture with Bake Me A Wish. Logan trademarked the name of her signature cake and signed a two-year licensing agreement with Bake Me A Wish, which is now producing her cake at the company’s baking plant on Long Island. Thus far, the company has shipped just over 1,000 Mortgage Apple Cakes since their partnership with Logan began in July.

Logan is now developing a line of other cakes under her name for Bake Me A Wish, while serving as spokeswoman for the Mortgage Apple Cake. Grateful for the overwhelming support she’s received, Logan decided to ‘pay it forward.’ She wants those who are struggling with making their mortgage payments or who are facing foreclosure to know that there is hope.

This is why Angela Logan, along with Bake Me A Wish, will be giving a portion of the apple cake proceeds to GreenPath.

“Sponsoring GreenPath through the sale of this product is a phenomenal opportunity for our company to assist more of our fellow Americans in need of sound financial advice and assistance, especially in these harsh economic times,” said Josh Kaye, President of Bake Me A Wish. If you are interested in ordering a cake, go to http://www.bakemeawish.com/angela-logan-mortgage-apple-cake.php.

October 17-24 is National Protect Your Identity Week

Did You Know?
More than eight million Americans have their identities stolen each year. In 2008, 10 million Americans were victims of identity theft fraud costing more than $48 million. There have been breaches of secure information in nearly every sector of the business community, not just in the credit industry. Identity theft also reaches into education, health care, banking, and even into government sectors. Anyone can be affected by identity theft.

The average victim’s loss per identity theft incident is $4,849, and the victim will spend an average of 600 hours and $496 resolving the issues related to the crime. Prevention is the best answer to this growing problem.

In partnership with the National Foundation for Credit Counseling (NFCC) and the Better Business Bureau (BBB), GreenPath is taking a lead role in helping ensure consumers are aware of steps they can take to protect themselves from being a victim of this crime.

GreenPath will be offering a number of activities during National Protect Your Identity Week. Check out www.greenpath.com for event descriptions, times and locations.

How to Protect Yourself

In the course of a busy day, you may write a check at the grocery store, charge tickets to a ball game, rent a car, change service providers for your cell phone, or apply for a credit card. Chances are you don’t give these everyday transactions a second thought. But an identity thief does.

Identity theft is a serious crime. People whose identities have been stolen can spend months or years and thousands of dollars cleaning up the mess the thieves have made of a good name and credit record. In the meantime, victims of identity theft may lose job opportunities, be refused loans for education, housing, or cars, and even get arrested for crimes they didn’t commit.

Nothing can guarantee that you won’t become a victim of identity theft. However, you can minimize your risk, and minimize the damage if a problem develops, by making it more difficult for identity thieves to access your personal information. Here are some tips from the Federal Trade Commission (FTC) to help protect you or someone you know from becoming a victim of this crime.

Protect your Social Security number. Don’t carry your Social Security card in your wallet or write your Social Security number on a check. Give your Social Security number only when absolutely necessary.
Select intricate passwords. Place passwords on your credit card, bank, and phone accounts. Avoid using easily available information like your mother’s maiden name, birth date, phone number or the last four digits of your Social Security number. Combinations of letters, numbers, and special characters make the strongest passwords.
Treat your trash and mail carefully. Always shred your charge receipts, copies of credit applications, insurance forms, physician statements, checks and bank statements, expired charge cards that you’re discarding, and credit offers you get in the mail.
Verify a source before sharing information. Don’t give out personal information on the phone, through the mail, or on the Internet unless you’ve confirmed their identity and verified that their need for the information is legitimate.
Store information in secure locations. Keep your personal information in a secure place at home. Share your personal information only with those family members who have a legitimate need for it. Keep your purse or wallet in a safe place at work; do the same with copies of administrative forms that have your sensitive personal information.

For more tips on protecting yourself from becoming a victim of identity theft, watch our video at http://www.greenpath.com/tools-and-tips/videos/fast-forward-on-finances/identity-theft.htm.