Residents of Illinois will get a chance to take advantage of a unique program designed to help homeowners at risk of foreclosure. Although numerous states have held workshops and conventions for putting homeowners in touch with mortgage debt relief solutions, Illinois is the first to create a program of this nature.
Changing The Way
The state of Illinois’ Foreclosure Prevention Network was created to provide resources to homeowners looking to lower their payments, secure a loan modification or avoid foreclosure. The idea behind the program is to be a one-stop shop for homeowners looking for help with their mortgages, removing the hassle of having to look in multiple places for help.
The Illinois Foreclosure Prevention Network connects homeowners with help from various state agencies, non-profit organizations and federal resource programs. The program also has access to the Illinois Hardest Hit Fund Program, which has close to $445 million in assistance money for qualified homeowners suffering from mortgage debt due to unemployment. The multi-agency effort is coordinated by the Illinois Housing Development Authority and is hoping to help stave off further problems with the foreclosure crisis.