U.S. Senator Mark Kirk (R-Ill.) today joined Senator Dick Durbin (D-Ill.), Cook County Commissioner Bridget Gainer and the Illinois Housing Development Authority (IHDA) to announce the re-opening of the Illinois Hardest Hit Fund program (HHF). Starting August 1, the program will provide mortgage assistance to families struggling to make mortgage payments due to loss of income
CHICAGO - December 27, 2013 - (RealEstateRama) -- Governor Pat Quinn today signed legislation to protect Illinois homeowners by preventing a lender from selling a home while the homeowner is applying for a federal mortgage assistance program. This legislation is part of Governor Quinn’s commitment to protecting Illinois families and helping them fight foreclosure
CHICAGO - August 22, 2013 - (RealEstateRama) -- Governor Pat Quinn today signed a new law protecting Illinois renters in foreclosed multifamily properties. The new law requires those acquiring foreclosed residential property to honor existing leases or give tenants adequate time to make a safe move. This legislation is part of Governor Quinn’s commitment to protecting Illinois families and helping them fight foreclosure
CHICAGO, IL - June 21, 2013 - (RealEstateRama) -- Governor Pat Quinn today signed a bill into law that will ensure struggling homeowners in Illinois have a grace period of up to 90 days before foreclosure - giving families extra time to get back on track and stay in their homes. The bill extends an existing law the governor first signed in 2009 and is part of his commitment to keeping Illinois families in their homes and driving our economy forward
PEORIA - May 10, 2013 - (RealEstateRama) -- State and city officials today announced Governor Pat Quinn’s plans to bring affordable homebuying options and foreclosure prevention relief to Peoria residents. The state’s housing finance agency, the Illinois Housing Development Authority (IHDA) will host a comprehensive housing event on Saturday, May 18 from 9 a.m. to 2 p.m. at the Peoria Civic Center to give area residents direct access to state programs that can help homebuyers buy a home affordably or assist current homeowners to save their homes from foreclosure
CHICAGO, IL - April 18, 2013 - (RealEstateRama) -- The Illinois Housing Development Authority (IHDA) today announced it received a $2.7 million National Foreclosure Mitigation Counseling Program (NFMC) grant, the second-highest award in the nation. In addition, IHDA received notice it will receive $270,270 in U.S. Department of the Treasury funds under the Making Home Affordable (MHA) program to raise awareness about loan modifications.
WASHINGTON, D.C. - March 21, 2013 - (RealEstateRama) -- The Senate Banking Committee voted earlier today 12-10 along party lines in favor of the confirmation of Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB). Cordray’s nomination now goes to a vote by the full Senate. Unfortunately for Illinoisans, Senator Mark Kirk voted against Cordray, who has earned widespread, bipartisan praise for his work leading the CFPB
CHICAGO, IL - February 8, 2013 - (RealEstateRama) -- Governor Pat Quinn today signed a landmark law that will strengthen communities across Illinois by responsibly fast tracking the foreclosure process and investing more than $120 million to help more families keep their homes. The law will help restore neighborhoods and property values by significantly shortening the foreclosure process to a few months, down from what now takes nearly two years. Today’s signing is the latest action by Governor Quinn to help working families stay in their homes, which will stabilize and grow the Illinois housing market
CHICAGO, IL - February 1, 2013 - (RealEstateRama) -- Governor Pat Quinn today announced that one year after he launched the Illinois Foreclosure Prevention Network (IFPN), more than a half-million people have connected to its free statewide resources to help keep their homes
Chicago, IL - January 31, 2013 - (RealEstateRama) -- Attorney General Lisa Madigan today joined with 45 of her counterparts to announce a $120 million settlement with Lender Processing Services Inc. (LPS) over allegations that the Florida firm engaged in pervasive “robo-signing” of foreclosure documents and other faulty servicing practices while servicing loans of struggling homeowners
Chicago, IL - January 14, 2012 - (RealEstateRama) -- Attorney General Lisa Madigan today reminded eligible Illinois borrowers that the deadline to file a claim form to receive a payment under the National Mortgage Foreclosure Settlement is Friday, January 18
ATTORNEY GENERAL MADIGAN COMMITS $70 MILLION TO HELP ILLINOIS HOMEOWNERS, COMMUNITIES HIT BY FORECLOSURE...
Chicago, IL - December 24, 2012 - (RealEstateRama) -- Attorney General Lisa Madigan today announced she has designated up to $70 million of funding from the national foreclosure settlement for housing counseling services and relief efforts for Illinois communities fraught with vacant and abandoned properties that have been hardest hit by foreclosure
Chicago, IL - December 18, 2012 - (RealEstateRama) -- Attorney General Lisa Madigan today sought to crack down on a new form of “mortgage rescue fraud,” filing lawsuits against two companies for preying on struggling homeowners and promising loan assistance while actually adding to their targets’ financial hardship
CHICAGO, IL - December 5, 2012 - (RealEstateRama) -- To continue Governor Pat Quinn’s commitment to make FREE foreclosure prevention and homeownership counseling available across the state, the Illinois Housing Development Authority (IHDA) today announced two new rounds of funding are available to enable community-based organizations to provide housing counseling to more families to protect their homes from foreclosure
Chicago, IL - November 27, 2012 - (RealEstateRama) -- Attorney General Lisa Madigan has sent a letter to the Federal Housing Finance Agency (FHFA), demanding the agency abandon a proposal that would unfairly penalize Illinois borrowers by tacking higher fees on new mortgages sold in the state.