Help is Here for Struggling Homeowners

May 12, 2010

The amount of U.S. homeowners facing foreclosure in April fell 2 percent from a year ago. Big deal, you think. Well, think again: It’s the first annual decline in five years.

Illinois foreclosure rates are high, but help is out there.

RealtyTrac Inc., which tracks this kind of stuff, reports that 333,837 U.S. properties got default notices or were repossessed in April. That’s still one in every 387 U.S. homes facing foreclosure, but it’s also a 9 percent drop from March.

Now, in Illinois, the news is not so good. RealtyTrac says that the number of Illinois homes facing foreclosure rose more than 37 percent in April over last year’s numbers. That equates to one in every 279 Illinois households.

There is help! Starting today, and going through Monday, there will be two free homeowners assistance programs.

One is called the Homeowners Assistance Event. It’s scheduled from 8 a.m. to 8 p.m. at Navy Pier, where Greater Chicago area Chase Homeownership Centers will be set up to help homeowners in trouble.

What: Homeowners Assistance Event

When: Thursday, May 13 through Monday, May 17; 8 a.m. to 8 p.m.

Where: Navy Pier Chicago, Exhibit Hall A, located in Festival Hall, 600 East Grand Ave., Chicago

Other: Download this Homeowners Information Package to get things rolling

The other is also from Thursday to Sunday, when the Neighborhood Assistance Corp. of America (NACA) will be on hand around the clock at McCormick Place helping homeowners get loan modifications. Pre-registration is not required but recommended.

What: Save-a-Thon

When: Thursday, May 13 through Monday, May 17; 24 hours a day!

Where: McCormick Place, 2301 S. Lake Shore Dr., Chicago

Other: Call (773) 723-6222.

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