Foreclosure Intervention

Unfortunately, for some Clayton County residents Foreclosure Prevention – Mortgage Rescue – is no longer attainable, and in the wake of a foreclosure is a vacant home. At this point, the Clayton County Foreclosure Resource Center (CCFRC) turns its attention to Foreclosure Intervention, or Recovery, which will include a number of strategies to put residents back into homes, preventing vacancies from escalating.

Over the past several years, Clayton County has experienced a "perfect storm" of conditions for home foreclosures. Those collective trends have included:

• Domestic Economic Issues – loss of jobs, single parent/income homes, etc.
• Bad Loans, Over Borrowing.
• Mortgage Fraud, Victims of Predatory Lenders.
• Lack of Mortgage Counseling and Financial Experience and Education.

If foreclosures ARE NOT addressed, Clayton County’s future may be in jeopardy, with conditions worsening that will include:

• Vacant Homes.
• Squatters, Code and Neighborhood Ordinance Violations.
• Decreased Property Values, County Government Revenues.
• Crime, Drugs, Vandalism, etc.
• Overall Social and Economic Deterioration.

So, the Clayton County Foreclosure Resource Center (CCFRC) is pursuing some Foreclosure Intervention methods to keep the community – and its housing stock – strong. CCFRC Foreclosure Intervention programs may include:

1. Offering second mortgages or "soft seconds" to get homeowners caught up on delinquent payments or negative equity.
2. Purchasing foreclosed homes at a discount, and in turn rehabilitating or redeveloping them for potential resale.
3. Other intervention methods yet to be determined.