Gina Figueroa

I recently contacted Saxby Chambliss's office [saxby_chambliss@chambliss.senate.gov] asking what steps they are now recommending homeowners in crisis follow in light of recent passed legislation.

Below is their response. Hopefully it will give those who need direction a place to start.

"Recently, hundreds of thousands of homeowners have faced foreclosure on their homes. Several different steps have been taken by the federal government in its attempt to prevent further foreclosures.

I have worked closely with my colleagues in the Senate to form legislation to address this pressing issue. The "Foreclosure Prevention Act," P.L. 110-289, and "Emergency Economic Stabilization Act," P.L. 110-374 both passed the Senate with my support, giving the proper agencies the authority and resources to attack this urgent situation head-on.

As such, the U.S. Treasury, Federal Deposit Insurance Corporation, Federal Housing Finance Agency, various Government Sponsored Enterprises, and the HOPE NOW Alliance have partnered to create a streamlined loan-modification program for those who are facing foreclosure. This new protocol will be a standard for the industry to move homeowners into long-term sustainable mortgages.

As we move forward in the 111th Congress, I will remain supportive of these agencies' hard work and commitment to addressing preventable foreclosures. If you or someone you know is seeking foreclosure assistance, I encourage you to contact the HOPE NOW Alliance at 1-888-995-HOPE (4673) or visit their website at: http://www.hopenow.com/

From the office of Senator Saxby Chambliss

If you would like to receive timely email alerts regarding the latest congressional actions and my weekly e-newsletter, please sign up via my web site at: www.chambliss.senate.gov . Please let me know whenever I may be of assistance.

If you are a struggling homeowner considering doing a loan modification to try to protect yourself against foreclosure, my advice is to step carefully.

I contacted the Georgia Department of Banking & Finance to see what licensing is required of someone offering this service. As of yesterday, in the state of Georgia, you now much be a licensed insured mortgage broker to offer loan modification services. So if a real estate agent or some non-mortgage licensed or non-bonded person approaches you with their services -run!

I suggest a consultation with a real estate attorney or an attorney specializing in this area of loan modifications. Although it can be expensive, your consultation should be free. You can also contact your mortgage servicer yourself and ask for the "loan modification department", explain your situation and see what they say. However, be very careful signing any documents or agreements without someone knowledgeable in the mortgage laws reviewing them. Should you end up having to break your agreement due to greater financial hardship than you anticipated- you could be in even deeper hot water than going the foreclosure/ short-sale route. Ask what would happen should you not be able to fullfill the agreement!

Please review my blog frequently. Things are changing very quickly. Some banks are motivated to help you and some are not although they are getting more pressure to do so from the government. I am expecting the director of the Banking and Finance Department to call me back with more information on the route they are advising struggling homeowners to take to best protect themselves. You can also contact your Consumer Affairs department.

I know it can seem like everyone is out to take advantage of your situation. There are reputable people out there who want to help. Take the time and effort to find those people.

For all you first timers out there let me say first of all- Congratulations. Your patience has paid off. But if you wait any longer you could miss a great opportunity here in Jackson County (and Barrow)

Not only are interest rates the lowest we've seen and inventory is at a peak, but prices are astoundingly low and sellers are desperate. But I have one more thing that may push you over the edge of hesitating any longer. The Housing Recovery Bill which just passed gives even more money to counties who qualify for the Rural Development Financing loans. What does that mean for you? If you buy in Jackson or Barrow counties you pay:

Nothing Down. (0 /Zip As a matter of fact- you can borrow up to 102%)

New or Existing Homes

Fixed rates

No PMI (amazing benefit!)

No cash reserves required

No seller contribution limits

No loan limits

Call me today! You need to act! What in the world are you waiting for?

I'll walk you through the whole process and you'll be so glad you did.

I heard a story yesterday that broke my heart and I wanted to send out a word of encouragement to others that may be going through similar situations.

A builder in a south metro Atlanta county tried to commit suicide recently due to his despondency over his current financial situation. He had been a builder his whole life and had lost everything- his business, his home and obviously- his hope. Now, I know nothing else about his situation, but being a realtor whose focus is in new construction, I know that there are many builders, realtors, loan officers and folks in the support industries going through identical situations. When we have looked to our leadership for answers, most of the advice is superficial at best; brush up on skills, stay in contact with customers etc. The truth is they can not offer us anything that really works because like most of us- they do not know what to do or what will happen in the future. This has gone far beyond the borders of our industry and I am aware it may get worse before it gets better.

So how do we get through this? We need to stop and examine what truly matters in this life and look at where we are placing our hope and what it is we value. We can't just define ourselves by what we do for a living or by what we have been able to collect over the years as possessions. We need to examine who we are as individuals. What do we believe in and what do we value? We need to stop and count our blessings. Are you healthy? Are you able to work? Count it as a blessing. Do you have a family who loves you -no matter what? Count it as a blessing. We live in America, a country where we get a fresh start regardless of our past failures. Count it as a blessing.

The way we look at our trials can literally be life or death. We can get by without a lot of things, but hope is not one of them. Our material possessions and our business can be rebuilt. We are only failures when we give up, and I am not referring to giving up a job title. If you need to change occupations- then do it without guilt. If you do not have the strength or desire to rebuild your business, then find a new passion. What we must cling to is our hope and we must keep a proper perspective on what is happening. If you do not have the mental or spiritual resources you need to get through these challenging times, then your first priority is to get mentally and spiritual strong. Find someone you can share your fears with and look to for guidance and encouragement. Our society neglects nurturing those parts of our personalities but they are vital. Our faith provides the strength needed to carry us through life's challenges.

I know first hand that these are hard times and tough decisions have to be made. I am not minimizing the realities. But when I look at how people, who are in similar circumstances, choose such radically different responses, I realize that how we think truly does determine our reality. Personally, I have a strong faith and believe that no matter what we may go through in this life, God will work it out for our good. Like the story of the refiner's silver, trials purify us by forcing out our impurities- so that the metal may be made stronger. It's a painful process no doubt, but it does not have to be a hopeless one.

My hope today is that this reaches someone who needs it and that they may know they are not alone. Regardless of how things may appear now, do not give up. Where you go from here is up to you.

-As a man thinks in his heart, so is he. Proverbs 23:7

A Great Place to Call Home in Jackson County Within the Jefferson City Limits!

The city of Jefferson is fast becoming one of the hottest areas for families wanting country living but with all the conveniences. We are conveniently located up the I-85 corridor right above Gwinnett County at Exit 137 in Jackson County Georgia. We offer excellent schools. recreation and all the services you have come to expect.

Mallards Cove Subdivision offers distinctive craftsman influenced architecture with 4 or 5 bedroom plans to choose from. Ranches or two-stories, basement or slab homes; we have it all! We can customize any of our 15 plans to best suite your personally needs and taste.

We cater to young professional families who want all the upgrades at a price that offers value! Some of our standard upgrades include:

•v Granite

•v Tile Baths and backsplashes

•v Full sod

•v Stainless Appliances

•v Great plans

•v Swim & Tennis

•v Quality Construction

•v 2/10 Home Buyers Warranty

•v HOA and protective covenants

To learn more contact me today! Gina 678-758-6801 ginafig@alltel.net