Georgia homeowners facing foreclosure or other difficulties may be eligible for a new program from the state Department of Community Affairs and GHFA Affordable Housing, Inc.
HomeSafe Georgia provides up to 18 months of mortgage payment help for those who are unemployed or underemployed. Applicants can be unemployed, through no doing of their own, or self-employed.
“This is a real helping hand,” said the DCA’s Teresa Concannon.
After the assistance period, the interest-free loan is forgiven at 20 percent a year over five years. Other requirements include not having more than $5,000 in liquid assets, excluding retirement accounts, not being more than six months behind in mortgage payments and having an outstanding mortgage balance of less than $417,000. Applicants also must not be in active bankruptcy nor have a tax lien on the property.
For more information, see www.HomeSafeGeorgia.com.
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