Financial Literacy Information

	Illinois Department of Financial & Professional Regulation

	Brent E. Adams, Secretary		Pat Quinn, Governor

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Governor Quinn's Mortgage Relief Project will be stopping in Orland Park on February 18, 2012 to help south suburban Cook County homeowners prevent foreclosure

Offering Illinois homeowners immediate assistance to prevent foreclosure, Governor Pat Quinn's Mortgage Relief Project will stop in Orland Park on Saturday, February 18, 2012.

Homeowners who have recently fallen behind on their mortgage payments can obtain a 90-day grace period by entering housing counseling, according to the Homeowner Protection Act, which was signed into law two years ago by Governor Quinn. Administered by the Illinois Department of Financial and Professional Regulation and the Illinois Housing Development Authority, property owners can take advantage of state and federal program on-site at Mortgage Relief Project outreach events.

The event is being co-hosted by Orland Park Mayor Daniel McLaughlin, State Senator Maggie Crotty, State Representative Al Riley, and State Representative Charles Krezwick. It will be the 28th stop in a statewide tour that began in the summer of 2009.

The free workshops will be held from 9 a.m.-1 p.m. (registration closes at 12 noon) on Saturday, February 18, 2012 at Orland Park Civic Center, 14750 South Ravinia Avenue, Orland Park, IL 60462. Homeowners will receive helpful advice about mortgage refinancing, foreclosure prevention, legal rights, credit counseling and avoiding scam artists. Homeowners can also obtain private, one-on-one housing counseling with HUD-certified counselors. Be sure to bring your latest mortgage documents (bills, statements, notices, etc.), two most recent paystubs, and your state ID or driver’s license. For an itemized list of all the documents that you would need to complete a full application for a loan modification, go to Mortgage Relief Project Document Checklist.

The Homeowner Protection Act requires that all lenders and loan servicers notify homeowners who are at least 30 days late on their mortgage payments that they have 30 days to seek housing counseling to get their loan back on track. If a homeowner enters housing counseling, they get an additional 30-day grace period on foreclosure in order to work out a payment plan or refinance option.

For more information or to receive immediate assistance in advance of the event, please call IDFPR’s toll-free consumer hotline (800) 532-8785 during regular business hours or visit www.idfpr.com or www.ihda.org.

A list of HUD-approved housing counseling agencies in Illinois can be found at www.hud.gov.

Mortgage Relief Project Outreach Events (since 2009)

Addison	Aurora	Bensenville
Batavia	Bloomingdale	Bolingbrook
Chicago (Lincoln Park High School)	Chicago (Truman College)	Chicago (Wright College)
Chicago (Kennedy King College, 2x)	Chicago (Arturo Velasquez Institute, 2x)	Collinsville
Crete	Crystal Lake	Danville
Des Plaines	Edwardsville	Glendale Heights
Grayslake	Joliet	Orland Park
Peoria (2x)	Romeoville	Springfield

IDFPR Secretary Brent E. Adams speaks to homeowners during a Mortgage Relief Project outreach event held at Chicago's Arturo Velasquez Institute last April.

Standing behind Secretary Adams are (from right): Director of Banking Manual Flores; State Sen. Antonio Munoz; Lt. Gov. Sheila Simon; and IHDA's Bill Smirniotis.

Mortgage Relief Project Testimonials

“I’m very positive about the Mortgage Relief Project. The program helped me receive a loan modification from my lender.”
--Mr. M.H., Chicago’s Far Northwest Suburbs (Lake County)
“The Mortgage Relief Project made a big difference for me. My lender would not work with me before I attended the event.”
--Mr. M.W, Southwestern Illinois (Metro East Area)
“I received outstanding customer service (at the outreach event). The housing counselor was attentive to my details. She made me feel as if help is on the way.”
--Mr. C.S., Chicago’s South Suburbs
“The housing counselor was very helpful to me in reviewing my materials. Staff members were open and friendly and the program was very informative.”
--Ms. H.V., Central Illinois
I received confirmation that what I am doing the correct thing to do (to prevent foreclosure).”
--Anonymous, Southwestern Illinois

Federal and State Programs for Homeowners

The Making Home Affordable Plan, formally known as the Homeowner Affordability and Stability Plan, is part of President Obama’s strategy to get the economy back on track. The plan aims to help millions of families restructure or refinance their mortgages to avoid foreclosure and to save neighborhoods and communities from the negative effects of foreclosure such as lower housing prices, increased crime and higher taxes.

For further information on this assistance plan, visit www.makinghomeaffordable.gov, call our hotline at 1-800-532-8785 during regular business hours or send an email to MortgageReliefProject@illinois.gov.

On April 5, 2009, Governor Pat Quinn signed into law the Homeowner Protection Act. The Homeowner Protection Act, which was passed unanimously by the General Assembly, gives homeowners who fall behind on their mortgage payments time to work with their lender to develop a plan that will allow them to stay in their homes. IDFPR stands ready to help you understand this new law and take advantage of its important protections. While the information below is meant to address most questions, please do not hesitate to contact the IDFPR Toll Free Hotline at 800-532-8785 during regular business hours for additional information. MORE>>