Help to Keep Your Home - WALB.com, South Georgia News, Weather, Sports

Georgia is #2 in foreclosures

Help to Keep Your Home

August 23, 2007

Albany  --  In July, foreclosures were up 75 percent in Georgia over June.  Georgia has double the rate of foreclosures than the national average.

Carl Windom with Neighbor Works America says the carnivorous activity by some mortgage brokers has put many homeowners into more home than they could reasonably afford, and now, they are struggling to keep what they have.  

"You have uneducated and unsophisticated consumers trying to buy products that they're not necessarily familiar with.  They don't know the terminology, they don't know the industry, and they really don't know what they can afford, so that's why they end up with more than they can handle," said Windom.

The home ownership preservation foundation helps counsel homeowners in danger of foreclosure.  

Feedback: news@walb.com?subject=Foreclosure-KC

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