Sep
30

Kane County Event to Help Homeowners Avoid Foreclosure

September 30, 2010

The largest, free foreclosure-prevention event for Chicago’s West suburban homeowners is happening in Elgin this Saturday.

Keep Your Home is designed to help Chicago area homeowners at risk of foreclosure modify their loans and lower their payments.

The Hemmens Cultural Center in Elgin

More than 100 volunteers will be on hand, including real estate attorneys and HUD-certified counselors, to review homeowner paperwork and determine if they qualify for the government’s Making Home Affordable plan.

If a homeowner qualifies, an application will be prepared right then and there and submitted to a lender that day.

“There is an imminent need for foreclosure-prevention services in the Tri-City area. Kane County saw a 26 percent increase in foreclosure activity last month,” said Ed Jacob, executive director of the Neighborhood Housing Services of Chicago. “We encourage homeowners who may eventually or currently do have difficulty paying their mortgages and would qualify for a loan modification, to attend and seek assistance.”

According to the Woodstock Institute, foreclosure filings in Kane County increased 60 percent increase in the first half of 2010 compared to the same time period in 2009. And, in the first four months of this year, the city of Elgin recorded more than 1,000 total foreclosures.

Sponsored by the Neighborhood Housing Services of Chicago (NHS), the Attorneys’ Title Guaranty Fund, Inc. (ATG), the Chicago Community Trust and the Illinois Housing Development Authority, the foreclosure-prevention event will be at the Hemmens Cultural Center, while the Centre of Elgin will host event workshops in English and Spanish at the same time.

Pre-registration is strongly encouraged.

What: Keep Your Home

When: Saturday, October 2; 10 a.m. to 1 p.m.

Where: Hemmens Cultural Center, 45 Symphony Way, Elgin and the Centre of Elgin, 100 Symphony Way

More: Call (773) 329-4185 for English or (773) 329-4181 para Español, or visit www.atgf.com or www.nhschicago.org

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