Illinois Governor Pat Quinn announced a program last week that he says will help approximately 15,000 homeowners threatened by foreclosure. The Illinois Hardest Hit program utilizes $ 345 million in federal funds to support families who are having trouble making their mortgage payments due to unemployment or underemployment. Eligible participants will receive up to $ 25,000 over 18 months as a 10-year loan to keep their mortgages current. The loan is forgiven over the last five years of the 10-year term and carries zero interest.
DSNews.com Article Feed