Nationwide data compiled by Zillow identified the worst 1 percent of ZIP codes for mortgage debt exceeding home value. Georgia has nearly a quarter of the ZIP codes. Michigan is second. Many of the Georgia ZIP codes make a crescent around Atlanta's southern flank.
Two Georgia Republican members of Congress want to help struggling homeowners make their mortgage payments. It's a push to allow penalty-free withdrawls from retirement savings. Senator Johnny Isakson and north Georgia congressman Tom Graves are co-sponsoring a bill to allow homeowners to tap their 401-K accounts.