Struggling homeowners in the Chicago area can get guidance on how to apply for lower mortgage payments through a federal affordable-housing program at a workshop later this month.
The Illinois Housing Development Authority will host a free financial-counseling session for the homeowners Aug. 29 in Cicero, according to a statement from the governor's office.
Counselors certified by the U.S. Department of Housing and Urban Development and pro-bono real-estate attorneys will review paperwork to determine if borrowers qualify for the lower payments.
Qualified homeowners may complete an application for a loan modification under the federal Making Home Affordable Plan, and send it directly to their loan provider from the Keep Your Home event in Cicero. Borrowers may reduce their payments to as little as 31 percent of their gross monthly income, according to the statement.
Dispatches from Chicago's south side.
Monday, August 17, 2009
State workshop aims to help avoid foreclosures
Chi-Town:
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Foreclosures can happen to anyone, check out some ways to avoid foreclosure, such as always negotiate terms of loans with your lender, go for forbearance agreement, so lender can't touch your property before that date, Mortgage short sale facility is also the way to reduce your actual amount. So, i conclude that by following all the above ways try to avoid foreclosure.
ReplyDeleteState Rep. Andre Thapedi has introduced an entire foreclosure relief package with several Bills. He was on Comcast Newsmakers talking about one of those Bills. Why isn't his interview, which is on YouTube, on this blog for our residents to view? Strange ....
ReplyDeletePark Manor Neighbor if you find this video on YouTube I would be more than happy to share it here on this blog.
ReplyDeletePark Manor Neighbor...I want to remind you that this blog is a VOLUNTEER-run blog, with the writers having jobs, families, etc.
ReplyDeleteWe do our best to include all 6th ward related material. Our e-mail is prominently displayed n this site, and as far as I know, we have not heard from you. If you HAVE sent some info, please let us know the approximate time and date, so we can check our email boxes.
Also, tell Mrs. Tribute to send info on whats happening in Park Manor.
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