The state is expanding help for homeowners struggling to pay their mortgages.
Governor Rod Blagojevich says a pool of money lenders are putting up to help homeowners refinance their mortgages has grown to $310 million.
The Governor also announced that he is working with state Sen. Jacqueline Collins (D-Chicago) to introduce legislation that will make sure borrowers are notified when they’re at risk of losing their homes, and given a grace period of up to 60 days to work with counselors on payment or refinancing options before a lender can move to foreclosure.
The Illinois Homeowner Assistance Pool can help homeowners get into fixed-rate mortgages and stabilize their payments to help save their homes. You can get more information at: http://www.ihda.org/
