Louise Scoggins' Blog: Real Estate

Atlanta Foreclosures - New Hope for Foreclosure Victims

There seems to be a little light at the end of the tunnel for foreclosure / pre-foreclosure victims as the Feds announce the creation of “Project Lifeline”. Project Lifeline, formed by six of the nation’s largest financing institutions, allows homeowners who are severely delinquent on their mortgage payments to freeze the foreclosure process for 30 days to try and work something out with their bank. There are some mortgages that will not qualify – those on investment properties and vacation homes, nor will homes already in foreclosure or bankruptcy be eligible – but it seems like overall it seems like a good plan.

I have some clients who were recently able to take advantage of the Project Lifeline…