www.illinois.gov

Pat Quinn, Governor

State Links Skip to Content Skip to State Links

 Government
 Business
 Employment
 Education
 Health & Safety
 Family & Home
 Visiting
 About Illinois
 Illinois.gov

Stay Informed

Your Government


Illinois Flag Honors

Inspector General


 IGNN: State/All Press Release

ILLINOIS NEWS
The State of Illinois News page provides access to the Illinois Government News Network and all state press releases.


FOR IMMEDIATE RELEASE
June 17, 2011

Governor Quinn Proclaims Homeownership Month
Quinn highlights statewide mortgage loan, foreclosure prevention efforts

CHICAGO – Governor Pat Quinn has proclaimed June as Homeownership Month in Illinois. Quinn issued the proclamation to raise awareness about state-sponsored affordable homeownership programs and foreclosure prevention assistance available across Illinois to meet the needs of residents in this economy. 

“An important part of our economic growth is helping families own their own homes,” said Governor Quinn. “We are committed to making sure homeowners have access to the tools and resources they need to avoid foreclosure and save their homes.”

SmartMove mortgage loan programs available through the Illinois Housing Development Authority (IHDA), the state’s housing finance agency, enable first-time buyers and Veterans across the state to benefit from historically low interest rates and home prices. Veterans need not be first-time buyers. SmartMove loan programs offer homeownership opportunities to fit a variety of first-time homebuyer’s needs. Homebuyers who qualify for the 30-year, fixed-rate SmartMove loan can receive up to $6,000 in down payment and closing cost assistance. Under the SmartMove homebuyer package, buyers could potentially own a home for as little as $1,000 in many cases.

Recognizing that many Illinois families face the loss of their homes to foreclosure, Governor Quinn in his proclamation reminded people of the resources available through the state. State-sponsored Mortgage Relief Project events give homeowners struggling to make mortgage payments the opportunity to meet with a housing counselor certified by the U.S. Department of Housing and Urban Development (HUD). Homeowners who have recently fallen behind on their mortgage payments and have entered housing counseling can get a 90-day grace period under the Homeowner Protection Act created under Governor Quinn.

“Under Governor Quinn’s leadership, homeowners having trouble making their monthly mortgage payments now have more time to seek free counseling assistance,” said IHDA Executive Director Mary R. Kenney. “By connecting these Illinois families with experts, thousands of residents are given a second chance to keep their homes.”

Homebuyers interested in applying for the SmartMove loan should contact an IHDA partner lender to find out if they qualify. Income and purchase price limits apply.

For homeowners struggling in this economy, there is help available under the federal Making Home Affordable program. Qualifying owners could see their mortgage payments reduced to as low as 31 percent of gross monthly income, possibly saving hundreds of dollars a month. To find a counselor, go to www.findaforeclosurecounselor.org and search by ZIP code.

On Saturday, June 18, a Mortgage Relief Project event, co-sponsored by IHDA and the Illinois Department of Financial and Professional Regulation, will be held in suburban Des Plaines. HUD-certified counselors will offer free review of homeowners’ paperwork from 10 a.m. to 2 p.m. at the Des Plaines Public Library, 1501 Ellinwood St., to help determine if they qualify for a loan modification.
 



###

News Categories

 State/All
 Governor's Office
 Lt. Governor's Office
 Agriculture
 Budget/Fiscal
 Business
 Children/Families
 Culture
 Disabilities
 Economic Development
 Education
 Environment
 Flag Honors
 Health/Human Services
 History
 Infrastructure
 Opportunity Returns
 Recovery
 Safety/Security
 Technology
 Tourism/Recreation
 Transportation
 Workforce/Jobs

News Resources

 Search the News
 IIS Radio News
 RSS News Feeds
 e-News Subscriptions
 Communications Office
 Privacy Statement

Features

Sign up for an e-news subscription
Copyright © 2014 State of Illinois Site Map | Illinois Privacy Info | Kids Privacy | Web Accessibility | Contact Us