underwater-georgia-logoA new, limited-time, federally funded initiative may be able to help.

Underwater Georgia is a new federally funded state program for Georgia homeowners who owe more money on their mortgage than their home is worth.

For eligible applicants, the program may be able to provide a one-time payment of up to $50,000 to the mortgage lender to reduce the principal balance on the home. To qualify, a homeowner must file a pre- application by October 18, 2016.

 To qualify:

  • The property must be your primary residence (and only home) and purchased prior to January 1, 2012.
  • The total amount owed on all mortgages on the home must be $250,000 or less and mortgage payments have to be less than 90 days past due.
  • Total gross household income must not exceed 140 percent of the Area Median Income (AMI).
  • The property must have a total loan to value (LTV) ratio of at least 110 percent.
  • You cannot have received assistance previously through HomeSafe Georgia.

To apply:

  • Visit underwatergeorgia.org. There, you can review full program requirements and complete a pre- qualification quiz, which will help you determine whether you are likely to qualify.
  • Submit a pre-application by October 18, which asks for your contact information and details including when you purchased your home, its value and mortgage balance and more.
  • A random selection process via a third party will be conducted among pre-applications
  • submitted.  Representatives from the Georgia Department of Community Affairs will contact homeowners selected and work with them directly to complete a full application, which also includes submitting supporting documentation.underwater-georgia-flyer


Toll free at 1-877-519-4443
24 hours a day, 7 days a week