Assistance Program

Foreclosure assistance in Chicago.

If you are behind on your mortgage, or are at risk of foreclosure, there are places you can go for help. Several centers that help people who are facing foreclosure are being opened across Chicago by Freddie Mac. The centers will connect people with counselors who can help them access resources and information on how to pay their mortgage, including loan modifications and refinancing.

Many homeowners in Chicago are struggling to make their monthly mortgage payments on time. According to Freddie Mac, a large number of borrowers are currently more than 30 days behind on their payments. This means that these homeowners are at risk of foreclosure. If you are a homeowner struggling to afford your mortgage, you may be eligible for assistance through a loan modification, forbearance, principal reduction, or other options. Principal reduction programs lower the amount of money you owe on your mortgage. This can help you afford your monthly payments and avoid foreclosure.

Freddie Mac is being proactive by reducing the number of foreclosures. They are contacting homeowners who have not been successful in getting a loan modification to talk to them about their options. If you are eligible, you will be contacted by Neighborhood Housing Services of Chicago Inc. The Latin United Community Housing Association provides financial counseling and other assistance to help people improve their housing situations.

The new centers being set up by Freddie Mac will allow banks and lenders to work directly with homeowners to prevent foreclosures. The Neighborhood Housing Services of Chicago is an important agency in this process. The goal is to make loan modifications more quickly and easily, so that people can get the help they need.

Type of mortgage help provided by Freddie Mac

The foreclosure crisis is extensive and includes more than just mortgage relief. In addition to other housing solutions like loan modifications, “holistic” financial and debt counseling is also offered. This type of counseling takes a comprehensive approach to helping people manage their finances and get out of debt. The assistance provided by the company goes beyond just mortgage-related issues. This assessment includes looking at the borrower’s debt, medical bills, and credit card issues to see if they could still afford their mortgage after getting a modification. They can provide assistance with creating a budget, getting a loan for a car, and offer general financial advice.

Many people do not ask for help when they are struggling, according to the facts. The report found that only four in 10 seriously delinquent borrowers have asked for help and tried to get assistance dealing with their problem mortgages.

Locations of the Chicago centers

Milwaukee Ave., and at the Lincoln Park Zoo, 2001 N. Clark St Latin United Community Housing and the Lincoln Park Zoo will be the locations of the two Freddie Mac foreclosure centers. Milwaukee Ave. Christiana Ave. is located on the city’s South Side, and at Neighborhood Housing Services’ office at 1279 N. Milwaukee Ave. you can find information about housing and phone 773-276-5338. between Thomas and Kimball is three blocks long. Milwaukee Ave. is three blocks long and is located between Thomas and Kimball. Call them for help.

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