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Marietta offers home repair program for low-income families

Marietta offers home repair program for low-income families

MARIETTA, GA -- The City of Marietta's Housing and Community Development Division is now offering a loan program to help low- and moderate-income families repair their homes.

To qualify for assistance, a family must own a home and have paid off enough of the loan or mortgage to secure the cost of the work.

Eligible families must also have received no previous assistance and should be below 80 percent of median income, or less than $40,250 for one person.

The loans provided by the City of Marietta can be used toward electrical, heating, plumbing, roofing and other repair needs. They are given at zero percent interest and don't need to be repaid until the home is sold.

Funds are limited; interested families are encouraged to call 770-794-5610 as soon as possible to see if they qualify.

Loan Modification Could be Good, but Short Sale is Better says 1 Expert

Atlanta, GA--  As more and more Atlanta homeowners find themselves in financial distress and are forced to make tough decisions regarding their homes and specifically their dropping values and ballooning mortgage payments, we turned to a housing expert to help us navigate this complex situation.

Marian Anthony is a real estate finance expert and author of Short Sale RUSH- A How To Guide for Nonperforming Assets.  According to Marian, a Short Sale is more advantageous than a Loan Modification or a Foreclosure because "the reduced payoff in a short sale releases you from the debt obligation." He states that a foreclosure will ruin the homeowner's credit, and "a loan modification actually builds a debt trap around the borrower, milking them for every last nickel."

With so much information and marketing dollars being spent on homeowners getting into Loan Modification programs which may keep you bogged in debt for years, take Marian's su