Georgia’s metro-Atlanta area leads the country with 35% of homeowners underwater on their mortgage.
Georgia Cooperative Extension’s H.O.P.E (Housing Outreach and Public Education) for Homeowners program enabled homeowners to meet with a HUD-certified housing counselor. Twenty-six participants received on-site loan modifications that lowered monthly mortgage payments by $180. Also, as a result of attending H.O.P.E workshops, eight Atlanta-area homeowners were able to save their homes from foreclosure by completing loan-modification paperwork that was provided, submitted and tracked by HUD-approved housing counselors.
This program threw a lifeline to underwater homeowners, who saved their homes from foreclosure.