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Black Eyed Peas singer will.i.am was on Oprah this week to launch a new a new foundation for families in danger of losing their homes in the current financial crisis.

The i.am.home Fund will help struggling families through grants.

“Growing up I dreamt that one day I’d be able to buy my mom a house and take care of my family,” said the musician. “I realized that dream and experienced the positive effect giving back had on my family. Now I am compelled to help others who are in jeopardy of losing their homes and inspire others to join the movement. The collapse of the housing market and the economic crisis has left millions in jeopardy of losing their homes. The crisis awakened a personal mission to create the i.am home fund to save people facing the very real problem of foreclosure and homelessness.”

The singer launched the fund by revealing to two families on the TV show that he had completely paid off their mortgages.

“I don’t dream of being mega, crazy rich; I just wanna be able to create, make music and help people,” he told Oprah. “Doing this isn’t gonna leave a dent in my house, but it could help somebody that really needs it. It’s something that means a lot to me.”

To find out more about the fund, click here.

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