Thursday, May 23 2013 5:13 AM EDT2013-05-23 09:13:58 GMT
Dougherty County Police believe a pair of convenience store smash and grabs may be the work of the same two men. The first smash and grab happened around 2:20 am at the Pit Stop convenience store atMore >>
Dougherty County Police believe a pair of convenience store smash and grabs may be the work of the same two men.More >>
Wednesday, May 22 2013 11:26 PM EDT2013-05-23 03:26:38 GMT
If you're traveling this Memorial Day Weekend, you may notice you're paying about the same at the pump as last year. AAA says the average gas price in Georgia right now is about $3.46 a gallon. That'sMore >>
If you're traveling this Memorial Day Weekend, you may notice you're paying about the same at the pump as last year.More >>
Wednesday, May 22 2013 11:20 PM EDT2013-05-23 03:20:46 GMT
Looks like will have great weather for Memorial Day weekend and DNR Rangers are preparing for big crowds on Lake Blackshear. Rangers expect a large number of boaters all weekend. They say they will strictlyMore >>
Looks like will have great weather for Memorial Day weekend and DNR Rangers are preparing for big crowds on Lake Blackshear.More >>
Wednesday, May 22 2013 11:14 PM EDT2013-05-23 03:14:04 GMT
A Cordele woman and her father are leading an effort to send clothes and other supplies to tornado victims in Moore, Oklahoma. Not only are a lot of people already donating items, but people are chippingMore >>
A Cordele woman and her father are leading an effort to send clothes and other supplies to tornado victims in Moore, Oklahoma.More >>
Wednesday, May 22 2013 8:20 PM EDT2013-05-23 00:20:52 GMT
The Lee County Sheriff's Department is now working with the Albany Crime stoppers. The Lee County Sheriff's Department asked to join the Albany Crime-stoppers program. The Sheriff's Department believesMore >>
The Lee County Sheriff's Department is now working with the Albany Crime stoppers. The Lee County Sheriff's Department asked to join the Albany Crime-stoppers program. The Sheriff's Department believes it will be a helpful tool in closing some cases.
ALBANY, GA (WALB) - Some of you owe more on your mortgage right now than your home is actually worth. It's called being "under water".
Eugene Brymer has been a real estate Appraiser for more than 30 years. He says down payment assistance programs, part of the sub-prime meltdown, contributed to some people owing more than their home is worth. Brymer says those programs were meant to help more people into home ownership.
But now, it's easier for some of them to accept foreclosure since they won't lose any equity.
He said, "It's easier for them to walk away right now because the majority of the people walking away don't have anything invested in the house. They were making a payment on it and everybody was hoping that values would continue to go up and they would have equity in the house at one point in time, but it didn't happen that way."
One in six homeowners now owes more than what their home is worth. Brymer says he handles about 30 foreclosures a year, compared to about six ten years ago.
He says the mortgage crisis isn't quite as bad in Dougherty County as it is in much of the country because the real estate market here is more stable.
All content © Copyright 2000 - 2013 Worldnow and WALB, a Raycom Media Station. 
