COVERITLIVE.COM

8:34	GPB - Welcome to the GPB (in partnership with PBA 30 in Atlanta) Facing the Mortgage Crisis Webchat. We'll be getting started shortly, but you can begin sending your questions in now!

9:01

GPB - We have full-time housing counselors from Consumer Credit Counseling Service of Greater Atlanta on hand tonight to help answer your questions. All have college degrees and all have been certified as housing counselors by the National Foundation for Credit Counseling. They also have experience working in the mortgage or real estate industries.

9:01	GPB - Not every question submitted will be able to be answered. Some questions may require a longer, more personalized response. Our panelists will make every effort to answer as many questions as possible as quickly as possible.

9:11	[Comment From Rebecca ] How can I refinance my home?

9:13	Simone with CCCS of Greater Atlanta - Hi Rebecca, I would advise that you first speak with your lender to determine if you qualify. It generally saves you money by refinancing with your current lender. Also, See www.makinghomeaffordable.gov for information on HAMP and Refinance program.

9:14	[Comment From Rebecca ] Thank You

9:16

[Comment From Eloise ]
I have a condo and I am paying the mortgage but I do not want to continue to own it or pay for it - what will happen if I call the mortgage company and say I do not want to pay now. I have good credit. Will they assist me or try to run over me. What kind of suggestions do you have?

9:18	GPB - Thanks for your questions! A housing counselor will be posting your answer shortly!

9:19

Felicia with CCCS of Greater Atlanta - Eloise, this is a good question that many people have. If you want to give the home back, you can speak with your lender about a Deed in Lieu of foreclosure. The lender may require that you list it with a realtor and try to sell it before accepting the deed back. This will hurt your credit so you will have to rebuild it. The lender will try to assist you typically to find a solution. If you want to get a better idea of what types of options might work for you, you may also want to give us a call to go through a counseling session. You can call the number on the screen tonight or any other time call 800-251-2227 and ask for a Housing Counselor.

9:23	[Comment From Kimberly ] How can you get help getting out of an adjustable rate interest only loan???

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