Fresh Loaf

In late 2007, Georgia Tech professor Dan Immergluck released a study that added numbers to a sneaking suspicion: Property taxes were rising fast along the southern half of the Beltline, the 22-mile loop of parks, trails and transit planned to circle Atlanta’s urban core, and posing a problem for longtime residents unable to afford the uptick.

The study served as a reminder that for all its promises of parks, streetcars and smart-growth development, the Beltline could potentially cause displacement and gentrification — and have a negative impact on the neighborhoods the project is designed to help.

Immergluck’s followed up the study with Foreclosed!, a new book about the origins and aftershocks of the nationwide housing market meltdown.

(more…)

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The Atlanta Development Authority kicked off its relaunch of the HOME Atlanta mortgage-down-payment assistance program Sept. 17.

From the ADA’s site:

The Home Atlanta program is a 30 year fixed loan with TBD interest rate. The program also provides a 4% grant as well as the option to receive an additional 10% in down payment assistance in the form of a soft second loan.

There’s a good amount of specifics in order to be eligible and fine print, and judging by the mortgage crisis currently facing the nation, use care when choosing a financial plan for homeownership — visit the ADA’s page for the full details about HOME Atlanta. For a list of the program’s preferred lenders, visit here. If we hear horror stories or problems, we’ll keep you posted.

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