By Bob Keefe, The Atlanta Journal-Constitution, Thursday, February 19, 2009
Each Saturday, 400 or 500 struggling homeowners pour into the seminars Michael King holds around Atlanta.
Some cry. Others plead for help. Still others come to simply share their sad stories. Almost all are searching for ways to avoid foreclosure in the wake of shrinking paychecks and homes that are now worth less than they paid for them.
“People are looking for hope,” said King, a home-saving specialist in the Decatur office of the Neighborhood Assistance Corp. of America, or NACA, a nonprofit group that helps homeowners work through mortgage problems.
Wednesday, they may have gotten some.
Under the plan announced Wednesday by President Barack Obama, thousands of Georgians facing foreclosure could get new help refinancing their mortgages.
Some see this plan as unfair to those who have made severe sacrifices to save their homes. But, a lady on GMA this AM, when asked if it was fair, replied: "We're beyond that."
Some will no doubt "game" the system by stopping making mortgage payments to secure a better deal. It's a thought.