The deadline to apply for a new state program that helps with underwater mortgages is Tuesday.
The program, called Underground Georgia, aims to help homeowners who owe more on their houses than their homes are worth, said Carmen Chubb, deputy commissioner for housing at the Georgia Department of Community Affairs. Eligible homeowners can get up to $50,000 towards their principal mortgage balances, she said.
“It really is to give those homeowners some relief so that they can have mobility, they can regain their financial footing,” she said. “These are people who throughout during the economic downturn and the housing market downturn, they stayed in their homes, they paid their mortgages.”
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