Morning Minute: Illinois “Hardest Hit” program helping homeowners avoid foreclosure

The Illinois Hardest Hit Program, which provides financial assistance to qualifying homeowners who are having trouble making their mortgage payments because they have lost their job or are underemployed, has helped approximately 4,000 Illinois homeowners so far, according to an article in the State Journal-Register.

About 25 new families are entering the program every day, said Mary Kenney, executive director of the Illinois Housing Development Authority, which administers the Illinois Hardest Hit program. In all, Illinois can utilize $345 million in federal funds to aid troubled homeowners.

“The goal is to have all the resources available — legal assistance, one-on-one counseling,” Kenney told the newspaper. “The more people continue to struggle, we’ve seen more and more programs announced, and it is quite difficult for the average homeowner to navigate the resources.”

In other news:

The Housing Market is Coming Back – Newsweek

Five Reasons Why Buying a Home is Still a Good Idea – Quad-Cities Online

Get a Picture-Perfect Home Sale – Wall Street Journal

This entry was posted in Housing Market, Uncategorized by Stephanie Sievers. Bookmark the permalink.

About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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