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Mortgage Payment Reduction

Please check with your lender’s loss mitigation department prior to applying, to ensure your loan type can be recast or modified.

If you have spoken to your lender and your loan qualifies for this program, continue reading below to get started.

Afford Your Mortgage Again: HomeSafe Georgia's Mortgage Payment Reduction Program

Mortgage Payment Reduction offers a onetime payment of up to $45,000 submitted directly to your lender for eligible homeowners who have suffered a permanent loss of income in the last 36 months. Your lender will determine how best to use this money to create a new, affordable monthly payment for you.

There is no cost to apply and no closing cost if you are approved. The goal of this program is to reduce your monthly mortgage payments to not more than 38 percent of your gross household income.

Before you begin an application, please note:

  • Your lender must be participating in HomeSafe Georgia. Check here
  • The online application is just the first step toward mortgage payment reduction. You will need to download, print, complete and sign your application where indicated. A checklist and instructions are printed with the application, and should be submitted with the application along with your supporting documents by fax, mail or delivery to us.
  • You will need to write a hardship letter as part of your application detailing why you are seeking assistance and how your situation qualifies you to apply for the Mortgage Payment Reduction program. Click here for instructions.
  • For Mortgage Payment Reduction eligibility requirements, click here
  • For more of what to expect in the application process, click here.

If you would like to learn more about our other programs, visit our Mortgage Payment Assistance and Mortgage Reinstatement Assistance pages.

To apply for Mortgage Payment Reduction, click here.


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