Mayor Richard M. Daley today joined City officials and community partners to remind residents of the dangers of loan modification scams during a press conference held at the Neighborhood Housing Services Office, 1279 N. Milwaukee.
Daley said residents should avoid anyone who:
“Getting help to stay out of foreclosure and keeping your home doesn’t mean paying a fee. Advice and assistance are available from trusted non-profit organizations working in partnership with the City of Chicago, at no cost to the homeowner,” the Mayor said.
In addition, the City is hosting an event this weekend that is free to the public to help people who are having trouble paying their mortgage
The “Fix Your Mortgage” event — one of four being held this year — is scheduled for this Saturday, August 21 at Northside College Prep High School, 5501 N. Kedzie.
The City has worked with a number of partners to sponsor six Fix Yor Mortgage events, assisting more than 2,600 homeowners since 2009 as part of its comprehensive outreach efforts to help homeowners navigate the federal Home Affordable Modification Program (HAMP).
These events are just one of the many initiatives that the City has launched to address foreclosures in its neighborhoods.
Since 2003, the City of Chicago, Neighborhood Housing Services of Chicago, 22 lending institutions and the Federal Reserve Bank of Chicago have prevented more than 3,000 foreclosures, reclaimed nearly 790 vacant troubled buildings and counseled more than 16.900 Chicagoans through the Homeownership Preservation Initiative (HOPI).
Last year alone, the HOPI 311 Campaign connected 4,700 residents with free credit counselors.