Obama Administration and HOPE NOW Help Atlanta Area Homeowners Facing Foreclosure
Left to right center - Treasury Assistant Secretary for Financial Stability Tim Massad and Acting Federal Housing Administration Commissioner and HUD Assistant Secretary Carol Galante.
Recently, in College Park, a suburb of Atlanta approximately 1,500 homeowners attended the two-day "Help for Homeowners Event" at the Georgia International Convention Center. The event provided homeowners struggling to make their mortgage payments the opportunity to review their options and learn about possible alternatives to foreclosure.
Almost 570 real estate agents and housing counselors participated in free seminars about the Administration's programs to help homeowners prevent foreclosure. Dozens of mortgage representatives from about 20 banks and 50 representatives from local HUD-approved housing counseling agencies also met with homeowners.
Additionally, Congressman David Scott co-hosted an
in-depth discussion between federal officials such as Treasury Assistant Secretary for Financial Stability Tim Massad and Acting Federal Housing Administration Commissioner and HUD Assistant Secretary Carol Galante and local government officials such as Mike Beatty, the Commissioner of the Georgia Department of Community Affairs, business leaders, real estate agents, HUD-approved housing counselors, non-profit representatives, and mortgage servicers to share best practices, identify areas where stronger coordination are needed, and provide ideas for helping struggling borrowers learn about their options and reach solutions.
Assistant Secretary for Housing and Acting Federal Housing Administration Commissioner Carol Galante explained that this was a nationwide initiative to help struggling homeowners. Galante related, "It's important to get that individualized context. Every situation is different, and having consumers understand and servicers be right there, it's immediate. That's why it's so important."
"While over 31,000 Georgia homeowners currently have more affordable mortgage payments through the Administration's Making Home Affordable Program, there are other homeowners out there who are still struggling and eligible for help," said Treasury Chief for Homeownership Preservation, Darius Kingsley. "This event offers homeowners a free opportunity to meet one-on-one with their mortgage servicer and a HUD-approved housing expert to discuss the options available to them based on their individual circumstances."
The Georgia Department of Community Affairs also helped more than 200 homeowners learn about HomeSafe Georgia, Georgia's program through Treasury's Hardest Hit Fund, which provides up to 18 months of mortgage payment assistance while a homeowner is looking for work.
If you are a homeowner struggling with your mortgage payments, know that help is available right now-and the sooner you seek it, the more options you may have. Information about events in your area and other resources are available at: MakingHomeAffordable.gov, or you can call 888-995-HOPE, 24 hours a day, 7 days a week, 365 days a year, to receive free, expert advice from a HUD-approved housing counselor.
The Obama Administration's Making Home Affordable Program was created to help struggling homeowners modify or refinance their mortgage payments to make them more affordable, or transition to more affordable housing to prevent avoidable foreclosures. For more information, go to www.MakingHomeAffordable.gov.
HOPE NOW is the industry-created alliance of mortgage servicers, investors, counselors, and other mortgage market participants, brought together by the Financial Services Roundtable, Housing Policy Council and Mortgage Bankers Association, that has developed and is implementing a coordinated plan to help as many homeowners as possible prevent foreclosure and stay in their homes. For more information, go to www.HopeNow.com.
NeighborWorks® America creates opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. NeighborWorks® America is the nation's leading trainer of community development and affordable housing professionals. For more information, go to www.nw.org.
Georgia HomeSafe Program. The Georgia Department of Community Affairs has partnered with GHFA Affordable Housing, Inc. to deliver a statewide unemployment mortgage payment assistance program to prevent foreclosures, under the name HomeSafe Georgia. HomeSafe Georgia will help by providing "bridge" mortgage assistance to many Georgians who are unemployed or have seen a dramatic decrease in their income due to national economic conditions.