The home foreclosure crisis is winding down in metro Atlanta, but because of the precipitous drop in home prices during the Great Recession, there are still a larger than average number of home owners who owe more on their homes than the homes are worth.
Through the recession, there were frequent home preservation workshops put on by the federal government and banks.
The next one of those for home owners who are still struggling will take place Tuesday, September 9, from 9 a.m. to 7 p.m. at the Georgia International Convention Center, 2000 Convention Center Concourse in College Park. Those attending can meet face-to-face with home preservation specialists and HUD-approved credit counselors.
Wells Fargo, has invited more than 5,000 of its loan customers with troubled loans to the free home preservation workshop. Homeowners will be able to begin the process of applying for assistance from HomeSafe Georgia, a state government agency which provides mortgage payment assistance to unemployed and underemployed Georgians, for the first time.
Two non-profit groups that assist homeowners applying for help from HomeSafe Georgia, D&E Counseling and ClearPoint Credit Counseling Solutions, will be at the event to start the application process for aid. HomeSafe Georgia is a federally funded program that provides up to 24 months of mortgage payment assistance to homeowners who experienced hardship due to unemployment or underemployment during the last 36 months. It is administered by the Georgia Department of Community Affairs. More information is available at www.homesafegeorgia.com.
“While the Georgia economy continues to improve, unemployment and underemployment continue to be the main drivers of foreclosures across our state,” said Carmen Chubb, deputy commissioner of housing for the Georgia Department of Community Affairs. “Our program can help a number of homeowners avoid foreclosure, so the assistance HomeSafe Georgia is able to provide goes hand in hand with what Wells Fargo is trying to accomplish. This is a great chance for us to team up.”
Walk-ins are welcome although registration is strongly recommended to guarantee the ability to meet one-on-one with a representative. Register by Sunday, Sept. 7, at www.wfhmevents.com/leadingthewayhome or call 1-800-405-8067 for more information.
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