Press Release: Rep. Cross co-hosts Joliet Mortgage Relief Project

January 30, 2010

Joliet-Rep. Tom Cross (R-Oswego), other elected officials and the Illinois Department of Financial and Professional Regulation hosted a seminar at Joliet West High School on Saturday for local residents facing foreclosure. 

According to realtytrac.com, Will County has more than 8,000 homes in foreclosure.  Also according to the website, one out of every 306 homes is in foreclosure in Joliet and one out of every 101 homes is in foreclosure in Plainfield. 

“We need to do everything we can do to help keep people in their homes,” Cross said.  “When times get financially tough for our families during these rough economic times, the ability for them to stay in their home provides stability for the family and ultimately the community.” 

The state’s Mortgage Relief Project offers an opportunity for home owners to re-work their mortgages during the seminar.  This can be helpful for home owners who have recently fallen behind on the mortgage payments.  The Homeowner Protection Act allows residents facing foreclosure to participate in housing counseling and at the same time, enter into a 90 day grace period.

“By participating in this event, homeowners can literally save their homes,” said Brent E. Adams, Secretary of Financial and Professional Regulation. “The Mortgage Relief Project provides direct, tangible, and free assistance to homeowners.”

“We partner struggling homeowners with financial counselors who assist them in getting the resources they need to keep their homes,” said Gloria L. Materre, Illinois Housing Development Authority Executive Director. 

For more information please call IDFPR’s toll-free consumer hotline (800) 532-8785 during regular business hours or visit www.idfpr.com or www.ihda.org. .