That beats the previous record of 1,609 in October 2009. We certainly want to pray for the homeowners and their families.
President Obama announced the Housing Finance Agency Innovation Fund will issue $2 Billion to help unemployed homeowners in 17 states (including $126.6 Million for Georgia). It is estimated that the total federal money for Georgia alone will only help 4,000-5,000 of the almost 260,000 Georgians in this situation.
Also, HUD will provide $1 Billion to the Emergency Homeowners Loan program to provide assistance up to 24 months to homeowners who experienced a "substantial reduction" of income and are at risk of foreclosure.
No details of how they will help but significant loan balance reduction and permanent reduction of monthly payments would help.
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