Agency Struggling to Give Away $339 Million to Georgia Homeowners

One state agency has millions of dollars to offer struggling homeowners but few are applying. $339 million given to the state by the federal government to help Georgians facing foreclosure is just sitting in a bank account. Only $4 million has been spent so far with another $23 million committed to 900 homeowners. The state goal is to help 18,000 homeowners by 2017. If the money isn’t used it will be returned to the federal government.

The program in place for dispersing the funds is called Homesafe Georgia. It provides "bridge" mortgage assistance in the form of grants to Georgia homeowners who are unemployed or substantially underemployed. Homeowners who are currently able to make their mortgage payment but got behind on the mortgage while they were unemployed or underemployed are also eligible for the program. Homeowners may not be more than six months behind on their mortgage payments to qualify, however.

I encourage you to spread the word to friends, family, and neighbors who may benefit from the HomeSafe Georgia program. Homeowners in need of mortgage assistance can visit www.homesafegeorgia.com. If you have any questions about the value of your home or are thinking it may be time to sell, contact me directly at 678.478.2424 or john.morris@prudentialgeorgia.com.