A new program to help families dealing with foreclosure is ramping up. It's the second part of the landmark deal called the National Mortgage Settlement, and it makes $710 million available to Georgians for foreclosure relief.
Experts say getting that relief may not be easy.
Big banks are doing this because of their role in the real estate market collapse. There is money out there for some of you, but you have to go back to the bank that you believe got you into this jam in the first place in order to get it.
John Bartholomew, an attorney with the Atlanta Legal Aid Society, tries to be optimistic about this latest program to help families fighting foreclosure, or living now in practically worthless real estate.
"This one, we hope, has a little more teeth to it because it's being backed and was negotiated by the attorney generals of around 49 states. But, we'll have to see," said Bartholomew.
Annettee Willingham, 70, is working with Legal Aid. Her husband suddenly died. That single, catastrophic event set off a chain of bad luck. She remembers her first foreclosure notice.
"I called my daughter and started crying. Because I didn't know what to do," said Willingham.
Busy raising two great-grandchildren, she has been trying to get her loan modified ever since. But the bank, she says, can't seem to keep track of her paperwork. This new agreement is supposed to remedy that.
"They have to provide a single person, a single point of contact, to homeowners that will talk to them about their case, that will shepherd them through the application process," said Bartholomew.
Willingham has twice fought off foreclosure with the help of Legal Aid. She's hopeful she can stay in her home rather than let it be just one more abandoned house.
Many people haven't gotten help yet. In fact, many houses continue to be sold on the courthouse steps. Before you get to this point, Legal Aid says there are three calls you need to make.
First, call your bank. Don't wait for them to notify you that you qualify. After you make the first move, call a HUD-certified counselor. Let them help you wade through process. Finally, if there is any problem, even the slightest glitch, report it to the attorney general's office.
According to legal aid, the last word in this case is denied. Willingham has been told by the bank that they won't do a loan modification for her. This puts her in a really bad place as she can't rent an apartment for what she pays for that home. The good news is that her latest foreclosure date – September – has been postponed.
Thursday, May 23 2013 12:56 AM EDT2013-05-23 04:56:30 GMT
The FOX 5 I-Team has learned that Douglas County District Attorney David McDade is personally asking the GBI to investigate how money is spent in his office.
The FOX 5 I-Team has learned that Douglas County District Attorney David McDade is personally asking the GBI to investigate how money is spent in his office.
Wednesday, May 22 2013 10:42 PM EDT2013-05-23 02:42:27 GMT
What do major hotel chains, the IRS, and the business partner of a top rapper have in common? Court records show the National Conference of Black Mayors owes all of them money. Big money.
What do major hotel chains, the IRS, and the business partner of a top rapper have in common? Court records show the National Conference of Black Mayors owes all of them money. Big money.
Wednesday, May 22 2013 9:56 AM EDT2013-05-22 13:56:24 GMT
Americans are known for their pearly whites, but we pay for it—and it isn't cheap.
Americans are known for their pearly whites, but we pay for it—and it isn't cheap. If you have more than one child who needs braces, you have quite an expense on your hands—but FOX 5 I-Team reporter Dana Fowle found some ways to make it a little more manageable.
Monday, May 20 2013 11:12 PM EDT2013-05-21 03:12:38 GMT
The Douglas County district attorney used seized drug money to take support staff to a north Georgia training conference designed for prosecuting attorneys.
The Douglas County district attorney used seized drug money to take support staff to a north Georgia training conference designed for prosecuting attorneys. The FOX 5 I-Team followed along and found the four women didn't even register to attend the conference.
Monday, May 20 2013 6:44 AM EDT2013-05-20 10:44:05 GMT
Maria Boudet is a teen who had been living in foster care. She worked hard and earned a college scholarship. But the scholarship was revoked when Boudet's life-long wish was answered; she was adopted.
Maria Boudet is a teen who had been living in foster care. She worked hard and earned a college scholarship. But the scholarship was revoked when Boudet's life-long wish was answered; she was adopted.
Friday, May 17 2013 6:31 PM EDT2013-05-17 22:31:42 GMT
For decades, Atlantans have woken up to Tom Sullivan on their radios. But you might not know that he's also somewhat of an expert eBay seller, and he's got quite a story to tell.
For decades, Atlantans have woken up to Tom Sullivan on their radios. But you might not know that he's also somewhat of an expert eBay seller, and he's got quite a story to tell.
The FOX 5 I-Team found a pattern of payments and perks to one family by the local district attorney's office, and it's a pattern that has critics crying favoritism.
The FOX 5 I-Team found a pattern of payments and perks to one family by the local district attorney's office, and it's a pattern that has critics crying favoritism.
Contact the FOX 5 I-Team
* denotes required fields
We're sorry, but only one entry is allowed per person. Thank you for your continued interest.
Thanks for contacting FOX 5. To reach our newsroom by phone, please call (404) 898-0100.
205 N. Michigan Avenue Ground Floor Chicago, IL 60601 Station Operator: (312) 565-5532 Newsroom: (312)565-5533
