Sep 26, 2011

Illinois Hardest Hit Program

Posted by: Roseann Schumacher

The Illinois Hardest Hit program is designed to help approximately 15,000 Illinois homeowners threatened by foreclosure. The program uses federal funds to support working families having trouble making mortgage payments due to unemployment or underemployment. The program allows eligible participants to receive up to $25,000 over 18 months as a 10-year loan to keep mortgages current and make ongoing payments, including fees and penalties. The loan is forgiven over the last five years of the 10-year term and carries zero interest. There are specific eligibility requirements. Funds for the program are supplied by the U. S. Department of the Treasury.

Learn more about the program go to: www.illinoisHardestHit.org