ATLANTA — Millions of dollars have helped Georgia homeowners who have fallen behind on mortgage payments during the pandemic, leaving more than $300 million that has gone unclaimed.
Since the beginning of the year, the Georgia Mortgage Assistance Program has provided $30 million dollars to 1,600 families that have suffered hardships due to the pandemic. The program started in January with $354 million.
Anthony Fulton is among the homeowners who have been helped by the program. The pandemic created major headaches for his job as an educational consultant. When he fell behind on his bills, his mortgage company worked with him for more than a year.
“And all of a sudden, I get a letter indicating to me that if I don’t provide them with about $40,000 they would put my home up for sale,” said Fulton.
His home of 20 years was due to go up for sale on the courthouse steps over the summer.
“So I was scuffling, trying to get the money, and then a friend of mine says 'Anthony, there’s a program in Georgia that will assist you.'”
The Georgia Mortgage Assistance Program helped Fulton catch up on his mortgage payments and saved his home from foreclosure.
“We know that people are in need of this funding and we really want them to access it as soon as possible,” said Tonya Cureton Curry, deputy commissioner for housing at the Georgia Department of Community Affairs.
To qualify for help, homeowners have to prove that hardships caused by the pandemic led to issues paying their mortgage. Depending on the situation and a family’s income, a homeowner can get as much as $50,000.
“It’s important for people to make sure that when they’re applying that they have all their documents ready to upload,” said Curry. “It would be good to have your past mortgage statements or any past bills related to the mortgage process.”
Curry added that once an application is assigned to a processor, the typical wait is about two months.
Because he was facing foreclosure, Anthony Fulton’s case was expedited.
“Within a three week period it was completed,” said Fulton. “Within I think four days they had everything stopped.”
The frightening possibility of losing his home of 20 years is now gone.
For answers to frequently asked questions about the program, click here.