Fix Your Mortgage/Keep Your Home Events

Fix Your Mortgage and Keep Your Home foreclosure prevention events offer free, on-site loan modification application assistance and information to qualified, at-risk homeowners. The sessions were sponsored by Attorneys' Title Guaranty Fund, Inc. along with the City of Chicago, and  the Neighborhood Housing Services of Chicago (NHS)*. 

At each event, volunteer real estate attorneys and HUD-certified counselors review homeowners' paperwork and determine if they qualify for assistance under President Obama's Home Affordable Modification Program (HAMP). If they do, the application is then prepared and submitted to the loan servicer on-site. Organizers also bring in representatives from several large lenders to assist homeowners. All the services to homeowners are free.

Since the first Fix Your Mortgage event in May 2009, we have effectively delivered loan modification and counseling services to more than 1,500 targeted Chicago households, plus hundreds more in suburban locations; Madison, Wisconsin; and Peoria, Illinois. More than 30% of homeowners who attended a Fix Your Mortgage event have successfully applied for and received a loan modification, double the national average.

*Find a list of current NHS events here. If you're interested in volunteering, contact Pat Washington at [email protected] or call 773-329-4136.

Learn More

Although programs like ours are contributing to a solution, the foreclosure scene in general shows no signs of slowing down. In the third quarter of 2009, nearly a million foreclosure notices went out to homeowners nationwide.

 

Chicago ranks third in getting mortgage help

SUN TIMES MEDIA WIRE

June 22, 2010


The Chicago area ranks No. 3 among metro areas whose homeowners have obtained help hanging onto their homes from the Obama administration's mortgage rescue plan, according to a report released Monday.


The region accounts for 5.1 percent of activity nationwide in the Obama administration's Home Affordable Modification Program, or HAMP, said the report from the U.S. Treasury Department.


The program started in response to record home foreclosures amid the economic crisis, high unemployment and mortgage scams. The federal government gives incentives to lenders to change the existing mortgage by reducing the monthly payments. Banks usually change the mortgage by lowering interest rates or extending the loan term, but few have offered to reduce or eliminate home-equity loans or lines of credit.


The Chicago area's activity ranking is below the 6.4 percent in the Los Angeles area and 6.1 percent in the New York area, and just ahead of Riverside, Calif.'s, 5 percent. In total numbers, 17,428 Chicago-area homeowners won permanent loan modifications, an increase of 17 percent from 14,890 in April, the report stated.

originally published at SouthtownStar.com

 

The thought of losing their homes can paralyze people so that they don't act, perhaps believing that they have no recourse, until it is too late. But there are options for distressed homeowners (see video). For additional resources, see What You Need to Know about Foreclosure.

Testimonials from Event Participants

"When ATG put out the initial call seeking volunteers for its first Fix Your Mortgage/Keep Your Home event in the Spring of 2009, I was eager to help. However, I was also hesitant since I knew little about foreclosures, and nothing about loan modifications. But true to their word, ATG and NHS provided accessible and thorough training in advance and valuable support on the day of the event. I volunteered at the first event — applications were completed on paper and submitted by fax, and more recently in Lake County where volunteer attorneys had individual work-stations and delivered scanned applications by e-mail. The increased efficiency was impressive. As I sat face to face with individuals desperate to save their homes from foreclosure, I felt privileged and inspired to have played a small role in ATG's vision of community service, and I look forward to participating again."
 
— Elizabeth M. Rochford, Attorney Volunteer

Elizabeth M. Rochford, P.C., Lincolnwood, IL
 
"Very well organized, handled a large number of people in a short amount of time, volunteers were informative and knowledgeable about subject matter."
 
— Philip H., Homeowner

Chicago, IL
 
"I've been a real estate attorney almost 25 years and helped thousands of people buy and sell homes. Now people need help and don't have the means to obtain assistance. Many have lost their jobs or sources of income, some have lost a loved one or have faced medical problems, and some are now facing the reality of choices they made some time ago. But the opportunity to help those that are in need is great and ATG and Neighborhood Housing Services have come together to create a unique program and opportunity for attorneys to help out.


Come to some of the events or come to all of them. I've attended four Fix Your Mortgage events and have always learned something new and have assisted dozens with their home loan modifications. The circumstances these people face are tough, but helping them is extremely rewarding. It's an opportunity to give back to the community at large and in particular those most affected by the economic downturn. Sitting face to face with people in desperate need of help, and in some cases tremendous need for information and a reality check for them, and you can feel proud to have helped out along with the dozens of other volunteers.


The number one question these people ask is "Where will I live?" If I can help them keep their home through the loan modification program, I will. That's why I volunteered and will continue to volunteer while the need exists."
 
— Sam Tamkin, Attorney Volunteer

Chicago, IL


[Last update: 10-21-11]

 

 

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