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Two States which are in desperate need of government mortgage help are Michigan and Illinois. In 2010, 221,000 households in Michigan foreclosed on their homes. On average, one in every 282 housing units received a foreclosure filing. Some Michigan counties, such as Genesee, were hit even harder, with rates of 1 in every 162 homes receiving a foreclosure filing. Illinois is not doing much better. In 2010, 194,520 households lost their homes to foreclosure. County Cook, for example, had 8,117 new foreclosures in December 2010 alone.
This article will look at some of the main government mortgage help and assistance programs for Michigan and Illinois.
Michigan Government Mortgage Assistance
Legal Aid: Free local legal aid programs such as Legal Assistance Center in Grand Rapids (Tel. (616) 454-9493), the Legal Hotline for Older Michigan Citizens, (800) 347-5297, and the Western Michigan Legal Services (Toll Free:(800) 442-2777) provide low-income homeowners with legal help.
The Michigan Foreclosure Prevention program is another legal aid program available to Michigan residents. The program is a partnership between the National Consumer Law Center and legal aid and housing counselors throughout the state of Michigan.
Southeast Michigan Regional Foreclosure Intervention and Neighborhood Stabilization Collaborative.
This program is a cooperative effort between the counties of Southeast Michigan, which provides access to foreclosure protection resources to southeast Michigan residents. For instance, residents of Oakland County can benefit from the Oakland County Foreclosure Prevention Initiative. This program provides struggling homeowners with a personalized foreclosure status assessment and a housing counselor free of charge. The program will contact your lender, negotiate terms and if successful reach a settlement with your lender.
Illinois Government Mortgage Assistance
Foreclosure is a lose-lose situation for lenders and borrowers. Avoiding foreclosure is often in the best interest of everyone. Unfortunately a lack of education and understanding of the foreclosure process causes many homeowners to give up on their homes without a fight. The state of Illinois offers education and counseling to homeowners facing foreclosure through the Illinois Association of Community Action Agencies. The IACAC provides several housing initiatives to help those who are facing or have already suffered the effects of a foreclosure. These include the IDHS Service Provider Technical Assistance, the Rental Housing Support Program and the Illinois Community Action Development Corporation.
If you are a resident of Illinois or Michigan and need mortgage assistance, act now. Help is available, but the longer you wait the less foreclosure avoidance options are open to you.
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