| Click
here to download this resource list as a PDF file.
Foreclosure
Prevention Resources
Statewide Foreclosure Network
This is a network of 14 non-profit
housing counseling agencies across the state that provide one-on-one
foreclosure prevention counseling for homeowners.
Homeowners who are behind on their
mortgage payments need to call the HOPE HOTLINE at 1.888.995.HOPE(4673)
or locate and work directly with one of the 94 HUD-certified housing
counseling agencies throughout the state by visiting http://www.hud.gov/offices/hsg/sfh/hcc/hccprof14.cfm
or http://www.findaforeclosurecounselor.org.
Chicago residents may call 311 to be connected
to a local housing counseling agency.
To
learn more about the Hope Hotline visit http://www.995hope.org.
Making Home Affordable
The Department of
the Treasury and the Department of Housing and Urban Development
(HUD) recently launched a new website for consumers seeking information
about the Obama Administration’s Making
Home Affordable loan modification and refinancing program. The website
includes information about program eligibility, how to determine
if your loan is owned or guaranteed by Fannie Mae and Freddie Mac,
how to find a HUD-certified housing counseling agency and other resources.
Go to http://makinghomeaffordable.gov.
Homeowners’ Referral Helpline
The office of the Illinois Attorney General
Lisa Madigan’s new homeowners’ referral helpline offers
guidance on avoiding mortgage foreclosures. Call the office
nearest to you at 1.800.386.5438 (Chicago), 1.800.243.0618 (Springfield),
or 1.800.243.0607 (Carbondale).
To download a copy of the Attorney General’s
Mortgage Lending Guide visit http://www.illinoisattorneygeneral.gov/consumers/mor_lend_guide.pdf.
Mortgage Information and Fraud
Hotline
Homeowners who believe they may have been
the victims of deceitful or fraudulent lending practices can get
in touch with state mortgage fraud investigators by calling 1.800.532.8785
or call the Illinois Department of Financial and Professional Regulation
at 1.877.793.3470 to file a complaint.
Finally Home Program
Illinois Treasurer Alexi Giannoulias' Finally
Home Program helps Illinois residents purchase or refinance a home
if they have difficulty qualifying for a mortgage. This provides
an alternative to predatory loans that can lead to foreclosure. More
information is available at http://www.treasurer.il.gov/programs/finally-home/finally-home.aspx.
Bank of America's Nationwide Homeownership Retention Program for
Countrywide Customers
Beginning December 1, 2008, Countrywide will proactively
contact subprime and Pay Option ARM borrowers whose loans are scheduled
for an interest rate change and invite borrowers to
contact them if they believe they will not be able to afford the
new payments. Countrywide will systematically modify troubled mortgages,
including interest rate and principal reductions for eligible borrowers.
Call 1.800.556.9568 or visit http://www.countrywide.com.
Additional Resources
Read tips for avoiding foreclosure:
http://www.hud.gov/foreclosure/index.cfm
http://www.freddiemac.com/corporate/buyown/english/avoiding_foreclosure/
http://www.illinoislegalaid.org/
File a complaint against
your lender:
http://www.affil.org/get_active/complaint.php
Seek free or low cost legal aid:
http://www.rin.lsc.gov/scripts/LSC/PD/PDList7.asp
Learn more about the Mortgage Forgiveness
Debt Relief Act of 2007:
http://www.irs.gov/newsroom/article/0,,id=174034,00.html
Find a lawyer who is a member of the National
Association of Consumer Advocates (NACA) to represent you in case
of fraudulent, predatory or abusive business practices:
http://members.naca.net/findanattorney.php
Housing
Action Illinois
Housing Action Illinois
is addressing the foreclosure crisis through a four-part initiative
which includes: training housing counselors; engaging the mortgage
market; increasing resources and technical assistance for housing
counseling agencies; and working with local stakeholders to address
the foreclosure crisis in their communities. Through training and
technical assistance, Housing Action helps to build the capacity
of Illinois housing counseling agencies so they are well-equipped
to deal with the foreclosure crisis. For
more information, please contact erica@housingactionil.org.
|