One loan modification program homeowners may not be aware of in Illinois is the Illinois' Finally Home Program
Finally Home (formerly known as Our Own Home) was established in 2002 to help Illinois residents buy a home or keep their existing homes from going into foreclosure. Since that time, over $35 million in loans to more than 450 families have been guaranteed.
Finally Home is a free program that helps borrowers who cannot obtain conventional, sustainable mortgages from credible lenders because of factors such as bruised credit or a high debt-to-income ratio. Additionally, the program may help borrowers refinance a mortgage.
There are more free government or non-profit counseling resources for distressed sellers now, where few existed before. Examples include the Homeowner's HOPE Hotline at (888) 995-HOPE, or the Illinois Attorney General's Homeowner Hotline at (866) 544-7151.
THere are also many HUD approved counselors in Illinois.
Consultants provide free counseling and/or referrals focused on addressing individual issues and finding solutions with lenders.
(By the way - on the treasurer's site - you can also search the state's unclaimed property database on the site - for your lost, forgotten or abandoned funds)
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If you are thinking about buying / purchasing a home in the Chicago Illinois area, you should ensure that you have an agent that is on your side – looking out for your best interests. Feel free to visit the Buyer Broker Chicagoland web site for more information. Or call 847-566-7558 or Toll Free at 866-493-2842 or e-mail us to schedule a complimentary initial consultation – where we can determine if we can take you as a client.
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