CHICAGO – April 9, 2011. In an effort to stem the high number of foreclosures in the Chicago area, Lt. Governor Sheila Simon promoted the state’s free mortgage relief program Saturday during a homeowners workshop at the Arturo Velasquez Institute on the southwest side.
The Mortgage Relief Program, started by Governor Quinn in the summer of 2009, offers property owners free, on-site assistance with HUD-certified counselors to rework their mortgages and prevent foreclosure. This was the 19th stop on the statewide tour.
“Illinois has one of the highest foreclosure rates in the nation, which means far too many of our families are at risk of losing their homes and the stability that comes with putting down roots in a community,” Simon said. “We are making it a priority to help homeowners stay in their homes and preserve their pursuit of the American Dream.”
Though foreclosure filings dropped in February, Illinois still has the ninth highest foreclosure rate in the nation.
The workshop ran from 9 a.m. to 1 p.m. Saturday at the Arturo Velasquez Institute, 2800 S. Western Avenue. It was co-hosted by State Senator Antonio Munoz (D-Chicago), State Representative Edward Acevedo (D-Chicago), and State Representative Susana Mendoza (D-Chicago).
Homeowners who have recently fallen behind on their mortgage payments can obtain a 90-day grace period by entering housing counseling, according to the Homeowner Protection Act, a law enacted by Governor Quinn in 2009.
Mortgage Relief Project events are administered jointly by the Illinois Department of Financial and Professional Regulation and the Illinois Housing Development Authority.
Homeowners who need assistance, should call IDFPR’s toll-free consumer hotline (800) 532-8785 or visit www.idfpr.com
. A list of HUD-approved housing counseling agencies in Illinois can be found at www.hud.gov