ATLANTA -- The housing crisis in Georgia is far from over. The state is now ranked third in the nation in late mortgage payments.
For homeowner Unice Weeks, the late payments are a reality. Why? First, she lost her job.
"I've been unemployed for so long," Weeks said.
And after a time, her house fell behind.
"Three months behind and I might even be more than that. My mortgage used to be with Washington Mutual, now its Chase, and they haven't responded to me. I don't even know if they are getting my payments," she said.
Weeks said the worst thing for her is the uncertainty. She said she just got a job but says she hasn't been able to get answers from her bank.
"Now that I have a job, I actually have money, but I won't get paid until March 11. So I just am hoping they will work with me but I don't even know if it's already been sold from under me and I haven't heard from them in two months," Weeks said.
She said she plans to meet with the bank this week. She is far from alone. Fourteen out of every 100 mortgage holders in Georgia are late in making mortgage payments - making the state third only to Mississippi and Nevada. But there is a way for homeowners to deal with delinquencies and avoid foreclosure.
"The first thing they have to do is call early. Before they even start to get behind --go ahead and make that first phone call. If a modification is available, the servicer will work that out with the borrower," said JD Crowe, President of the Georgia Mortgage Brokers Association.
Crowe says to stay out of foreclosure, be sure to have your entire mortgage documentation ready at the start and don't wait until you get behind. At that point, it may be too late.
