Foreclosure Prevention Counseling

Foreclosure Prevention Counseling

  • Loan modification (HAMP*)
    • Qualifications
      • Homeowners with financial hardship, including those who received loan modification previously but having a new hardship now
      • Underemployed or reduced income
      • Currently delinquent or non-delinquent
      • Available until December 31, 2016
    • Make mortgage payment affordable by lowering interest rate and/or expanding to 30 years
    • Streamlined HAMP: no income proof or other documents required (Fannie Mae owned mortgage only)
  • Refinance (HARP*)
    • Qualifications
      • Fannie Mae or Freddie Mac owned mortgage only
      • Underwater mortgage eligible
  • Pre-foreclosure options (HAFA)
    • Short-sale
    • Deed-in-lieu
  • Free Mortgage Payment Assistance (HomeSafe Georgia)
    • Qualifications
      • Unemployed or underemployed
      • Eligible hardships happened within the past 3 years
      • Delinquent less than 12 months
      • Only participating lenders
    • Free Mortgage Payment for 24 months

     *HAMP: Home Affordable Mortgage Program

     *HARP: Home Affordable Refinance Program

     *HAFA: Home Affordable Foreclosure Alternative