Foreclosure is a scary problem. That is why many property owners need help. It is why many turn to foreclosure assistance programs in Illinois to help homeowners in need.

Illinois has several foreclosure assistance programs for homeowners struggling to make mortgage payments.

5 Foreclosure Assistance Programs in Illinois

1. Illinois Hardest Hit Program

This program provides financial assistance to homeowners who have lost their jobs or experienced a significant reduction in income due to the economic downturn. The program can provide up to $35,000 in mortgage payment assistance and up to $10,000 in reinstatement assistance.

2. Illinois Housing Development Authority (IHDA) Homeowner Assistance Program

This program assists homeowners who are behind on their mortgage payments or are facing foreclosure. Assistance can come as a loan to bring the mortgage current, pay off arrears, or a grant to pay delinquent property taxes.

3. Illinois Foreclosure Prevention Network

This statewide initiative provides free counseling and assistance to homeowners struggling to pay their mortgages. The network connects homeowners with HUD-approved housing counselors who can help them explore their options and develop a plan to avoid foreclosure.

4. Illinois Legal Aid Online

This website provides free legal information and assistance to homeowners facing foreclosure. Homeowners can access information on their legal rights, foreclosure procedures, and how to work with their lender to avoid foreclosure.

5. Illinois Department of Financial and Professional Regulation

The IDFPR provides information on foreclosure prevention resources, including housing counseling agencies and legal services.

It’s important to note that each program has its unique eligibility criteria and application process. If you need help making your mortgage payments, the Illinois Housing Development Authority or a HUD-approved housing counseling agency can share more about your options.

Final Thoughts

If the foreclosure assistance programs in Illinois are not providing you with enough to avoid foreclosure, we can help. We purchase foreclosed properties in as-is conditions. Call us today at 312-379-9625 for a free, no-strings consultation today.