Resources to Address Foreclosure
Resources available to homeowners concerned about losing their homes:
- People who are worried that they may lose their home because they can no longer afford the monthly payment can seek free help from the Neighborhood Housing Services of Chicago (NHS). NHS is a HUD approved housing agency and whether or not you are in foreclosure, staff there is available to look over your mortgage paperwork and try to help you to obtain a mortgage modification. They are experienced in working with mortgage companies and can act as an advocate on your behalf. Additional information can be obtained by contacting their intake office at 773-329-4113 or visiting them online at www.nhschicago.org/
- If a foreclosure has already been filed, call the Cook County Mortgage Foreclosure Mediation Program at 1-877-895-2444. This free program is provided by the Circuit Court of Cook County to help you understand the legal and financial aspects of mortgage foreclosure and explore options that may help you stay in your home. During this process someone from the program will sit down with you and a representative from your mortgage company to go over your mortgage paperwork and determine the best course of action.
- Another option is to call your lender’s loss mitigation department yourself to arrange a repayment plan or loan modification or increase your chances of getting the most suitable plan at no cost, by calling The City of Chicago Home Ownership Preservation Initiative (HOPI) at 311. HOPI staff members will help you to work with your lender and explain options that can help you to deal with your situation. We suggest you call them before paying someone else to handle the problem.
- Once you have a permanent loan modification in place with your lender, make sure that they dismiss the foreclosure action in Chancery Court. Having the foreclosure dismissed will help protect you and give you more time in the event that you fall behind on payments again.
- Do not ignore the foreclosure action while negotiating with your mortgage company. Once the foreclosure process has started, you must respond in court. An attorney will explain Illinois foreclosure law. If you cannot afford an attorney and earn under $5,000 per month or are over 55 years old, you may be eligible for assistance from the Legal Assistance Foundation of Metropolitan Chicago, (312) 431-2204. As a last resort, attorneys at the Cook County Court’s Chancery Division Advice Desk can help you defend yourself. The Advice Desk operates Monday through Friday, from 9 a.m. to 1 p.m. in the Daley Center, Room 1303.