September of 2009 brought devastating flooding to many areas of metropolitan Atlanta, Georgia. During this time flood waters from the Chattahoochee River, the Yellow River, Peachtree Creek and hundreds of other small tributaries and reservoirs crested to record levels. During a 24 to 48 hour period as much as 15 inches of rain deluged the already water soaked landscape and created a new line of demarcation between flood zone and safe zone.
At least eight people lost their lives, hundreds were injured and thousands left homeless as the Georgia flood receded. What it left behind, as does any flood or other disaster, is wounded lives and dashed hopes and dreams. As a grim reminder of the loss of property there is a raw video feed from CNN attached.
There are glimmers of hope coming to many people who were displaced. Some of that hope comes from local churches and civic organizations like Trinity Chapel in southwest Cobb County - one of the hardest hit areas. Another source of hope is for people looking to purchase a replacement home which also extends to anyone looking to move into a flood disaster affected county.
The Georgia Dream Home Ownership Program has been extended and amended to offer special concessions and assistance to persons who are buying homes in the areas hardest hit. Raising the income limits and purchase prices in these areas will help a few people whether direct victims of the flood or sellers who have difficulty selling because of the resulting awareness of the flooding in these areas.
Counties affected by the flood and covered under the extended Georgia Dream Home Ownership Program and the relevant information are:
As indicated there are specific household income limits for 1 to 2 member households and 3 plus member households. The minimum contribution from the purchaser's own funds is $1,000 and the Down Payment Assistance from the State of Georgia is $5,000. Minimum required credit score is 660 at this time (2/19/2010) and, as always, these numbers are subject to change.
To learn more about the Georgia Dream for special flood areas you can call AmericaHomeKey, the local mortgage bank, at 678-439-8683 for answers and to learn about upcoming online and live training and events. AmericaHomeKey is located at 2870 Johnson Ferry Road, Marietta, Georgia, 30062 and is Georgia Residential Mortgage Licensee 23191 and NMLS ID 102930. Ken Cook is NMLS ID 208452.