The Atlanta Business Chronicle just released the latest figures on underwater mortgages in Georgia. As I expected, the latest figures from CoreLogic verify that the number of Georgians who owe more on their mortgages than the property is worth on the current market has grown by several percentage points since last year - 34.7% in 4th quarter 2010 over 28% in the same quarter 2009.
If you or someone you know is in this situation, a loan modification or other solution might help. Every Georgia homeowner who modifies a loan and stays in a distressed property adds one less property to an already flooded market. 
The Treasury Department is offering a free online calculator that helps borrowers estimate whether or not they qualify for the Home Affordable Modification Program ( HAMP).
The calculator is available at checkmynpv.com.
In the two years since its launch, HAMP has helped more than 270,000 borrowers receive permanent loan modification, thus lowering their monthly mortgage payments. That number falls far short, however, of the millions of homeowners across thenation and thousands in Georgia who are at risk of foreclosure . I've written many posts on how bad foreclosure is for homeowners and communities, and bad for the housing market.
That is why the timely pursuit of help is so important. Programs like HAMP may be able to help your neighbor or friend avoid foreclosure and stay in the home.
So do them a favor and share this post and my contact information.
They'll thank you, and so will I.
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