Not too late to speak out over housing help -, South Georgia News, Weather, Sports

Not too late to speak out over housing help

August 16, 2007

Albany - - In the market for a new home? It's getting harder for many people to qualify for a mortgage.

Late payments and defaults on mortgages are at their highest level in more than five years . That's causing problems for lenders and potential home buyers.

Additionally, the federal government is considering doing away with down payment assistance for potential homeowners through it's FHA loan program. A public comment period for people with concerns to speak out about the issue ended, but housing advocates say that doesn't mean you can't weigh in.  

"I encourage the people in Georgia to call their representatives and call their senators and activate them. Let their representatives and senators know that they support down payment assistance, they do not want to see down payment assistance go away and they recognize the value of it. I think that will help the members to act because as you know members want to hear from their constituents and that's why they're in congress," says Ann Ashburn, President of AmeriDream.

Ashburn says 94 percent of people who get help from FHA down payment assistance remain home owners and don't run into foreclosure problems down the road.


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