ATLANTA – The Atlanta Development Authority (ADA) is partnering with the Atlanta Housing Authority (AHA) and HomeFree-USA during the month of October for “Fall into Homeownership” Month. Buyers who meet all eligibility requirements and obtain lender loan approval may qualify to receive down payment assistance from ADA and AHA. ADA has $25 million in first-mortgage capital in addition to several programs designed to help assist in-town buyers with down payment and closing costs.
Based on the geographic location of the property to be purchased, the ADA downpayment assistance can be used in conjunction with the AHA downpayment assistance. By combining these programs, buyers who qualify may be eligible to receive up to $40,000 in downpayment assistance. A series of events is scheduled for the month of October that will teach interested homeowners about the downpayment assistance programs available to them and highlight the housing developments that are eligible for homeownership incentives.
While the maximum household income limit can be as high as $82,000, the average household income of a program participant is $46,600. The average sales price of a home is $157,880.
Schedule of Fall into Homeownership Month events:
Fall Into Homeownership Celebration
Time: 12 p.m. – 4 p.m.
RSVP by calling 404.614.8306 on or after October 17
Network with ADA, AHA, and City of Atlanta developers, lenders, realtors and homebuyer education providers.
Fall Into Homeownership Celebration
Certified Short Sale & Foreclosure Specialist
AREA West Realty Group
Powered by Solid Source Realty
One is to revamp the Home Affordable Modification Program (HAMP) to empower housing counselors to modify mortgages using a standard formula, rather than leaving this task to the banks.
Second, banks could be given an incentive to participate in HAMP by empowering bankruptcy judges to modify the principal on mortgages.
Third, experts say that making mediation programs a mandatory requirement will give banks an opportunity to meet with every distressed home owner, look through the papers, consider the nuances of the situation, and make a good-faith effort to work out an arrangement.
And fourth, right-to-rent programs could be expanded for foreclosed home owners — like the one operated by Fannie Mae, which lets home owners rent their homes at fair-market value for five years.
Source: Washington Post, Ezra Klein (10/15/10)© Copyright 2010 Information Inc.
unfortunately most are unknown by many that live in the West End, until a tragedy occurs. Thankfully, Billy Fields is expected to recover after this incident and those of us not ‘in-the-know’ have time to find out Who Is Billy Fields ?, and appreciate his work, as well as help a fellow West Ender in his time of need.
“On Sun., Oct. 3 at around 1 a.m. Fields was robbed at gunpoint in the West End where he was doing sound at a dubstep warehouse party. During the robbery he was shot at nearly point blank range. The bullet passed through his bottom jaw on the right side and exited through his opposite cheek. The bullet took some teeth with it, and caused damage to his tongue, but he is expected to make a full recovery
Needless to say the bills are mounting. Donations to help cover medical costs can me made via Paypal
In the meantime, on Fri., Oct. 8 and Sat., Oct. 9 between 11 a.m. and 2 p.m. Fields’ friends are preparing his house (1605 Beecher St. ATL 30310) for his release from the hospital. If you’re interested in helping get his house in order send an e-mail to email@example.com for directions”
Posted by Chad Radford on Thu, Oct 7, 2010 at 3:16 PM on Creative Loafing