The Illinois Department of Financial and Professional Regulation (IDFPR) works with the Illinois Housing Development Authority (IHDA) and Illinois Department of Employment Security (IDES) to operate one-stop resource of state agencies and nonprofit organizations that help Illinois residents stay in their homes.
Before visiting an MRP event listed below, families should collect the documents listed in the Mortgage Relief Project Document Checklist.
Homeowners will receive helpful advice about mortgage refinancing, foreclosure prevention, legal rights, credit counseling and avoiding scam artists. Homeowners can also obtain private, one-on-one housing counseling with HUD-certified counselors.
The Homeowner Protection Act requires that all lenders and loan servicers notify homeowners who are at least 30 days late on their mortgage payments that they have 30 days to seek housing counseling to get their loan back on track. If a homeowner enters housing counseling, they get an additional 30-day grace period on foreclosure in order to work out a payment plan or refinance option.
For more information or to receive immediate assistance in advance of the event, please call IDFPR's toll-free consumer hotline (800) 532-8785 during regular business hours or visit www.idfpr.com or www.ihda.org.
A list of HUD-approved housing counseling agencies in Illinois can be found at www.hud.gov.
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| Federal Programs for Homeowners |
The Making Home Affordable Plan, formally known as the Homeowner Affordability and Stability
Plan, is part of President Obama’s strategy to get the economy back on track. The plan aims to help
millions of families restructure or refinance their mortgages to avoid foreclosure and to save neighborhoods and
communities from the negative effects of foreclosure such as lower housing prices, increased crime and higher taxes.
For further information on this assistance plan, visit
www.makinghomeaffordable.gov, call our hotline at 1-800-532-8785 during regular business hours or send
an email to MortgageReliefProject@illinois.gov.
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| State Programs for Homeowners |
| On April 5, 2009, Governor Pat Quinn signed into law the Homeowner Protection Act. The Homeowner Protection Act, which was passed unanimously by the General Assembly, gives homeowners who fall behind on their mortgage payments time to work with their lender to develop a plan that will allow them to stay in their homes. IDFPR stands ready to help you understand this new law and take advantage of its important protections. While the information below is meant to address most questions, please do not hesitate to contact the IDFPR Toll Free Hotline at 800-532-8785 during regular business hours for additional information. MORE>> |
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