Mortgage Warrior

Events scheduled June 11 at Alpharetta High School The Fulton County Department of Housing and Human Services Office of Housing and Community Development will host a free Foreclosure Prevention Fair in June to help Fulton County residents in danger of losing their homes because they can no longer afford their mortgages.

NeighborWorks and the Mortgage Bankers Association report that every three months, 250,000 new families enter into foreclosure.  Statistics from the organizations also indicate that one child in every classroom in America is at risk of losing his/her home because parents are unable to pay their mortgage.

RealtyTrac reports Fulton County led all counties in total foreclosure activity for the first quarter of 2011. Foreclosure filings were reported on 13,052 Georgia properties in March, a 2 percent increase from February 2011 but down almost 27 percent from March 2010. One in every 311 Georgia housing units received a foreclosure filing in March, the sixth highest state foreclosure rate in the nation for the month.

Atlanta Regional Housing website reports a steep drop in foreclosure filings in the 20 county metro Atlanta region from the previous month – “reaching a 2-year low.” In April 2011, 1, 463 foreclosure filings were reported compared to 1,864 in April 2010.  In a recent news article, by the Atlanta Journal - Constitution, Equity Depot President Barry Bramlett attributed the drop in filings to changes in lender requirements and the initiation of an extra step before advertising foreclosures because of paperwork problems.

HUD certified housing counselors will be on hand along with major lending institutions to provide counseling and assistance.  The event is designed to help homeowners to determine options available for avoiding foreclosure such as loan modification and other financing tools.  Counselors will also assess your current situation and map out a solution possibly determining if families qualify for the Obama Administration’s Making Home Affordable program. The "Making Home Affordable" program provides responsible homeowners with support to obtain affordable refinancing or loan modifications to help them stay in their homes.

Families who need assistance must bring two copies of the following documents in order to obtain assistance onsite.

·        Two most recent monthly mortgage statements
·        Recent Lender/Mortgage Company communications (letters and emails)
·        One month of most recent pay stubs for all household members contributing toward mortgage payment
·        Your tax return; If self-employed, the most recent quarterly or year-to-date profit and loss statement and two years of tax returns
·        Documentation of income you receive from other sources (alimony, child support, social security, etc.)
·        Two most recent bank statements
·         Copies of monthly bills: utilities, auto, insurances, etc
·        Unemployment insurance letter
·        Property Tax Statement
·        Current homeowners insurance policy
·        Personal loan statements
·        Most recent credit card statements
·        Settlement Statement/HUD 1 from your mortgage closing
·        Mortgage Deed (Warranty or Security Deed)

Those who arrive without the documents will be rescheduled for an appointment following the Foreclosure Prevention Fair. 

For more information, visit www.fultoncountyga.gov or call the Department of Housing and Human Services at 404-613-7944.  The website contains copies of the documents that need to be completed and brought to the event, along with a registration form that should be completed to help ensure timely processing the day of the event.