Underwater Mortgage

 

 

underwaterThe Georgia Department of Community Affairs has announced a new Underwater Mortgage Program that can provide up to $50,000 to eligible applicants to help pay down homes that have negative equity. As you know, there are still a substantial amount of homeowners in Gwinnett who have not fully recovered from the housing crisis and are currently underwater on their mortgage.

DCA has $110 million in funding for this program and the application process is only open from today through October 18, 2016. We wanted to pass this along in case any of the service providers through the Coalition have any clients who this could help.

Program Applications for this program can be found here:http://www.underwatergeorgia.org/

For more information there is an article in today’s Atlanta Journal-Constitution:http://www.ajc.com/news/business/underwater-110-million-to-float-struggling-atlanta/nsgWS/

 

Thank you,

Matthew Elder

Deputy Director

Gwinnett County Community Development Program

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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