Archive for July, 2013
July 23rd, 2013 categories: Market Data
Illinois Hardest Hit Program will end September 30, 2013. Families who are eligible for the program can receive up to $35,000 in mortgage assistance. This is a stop gap measure for people who lost their job or have had an illness which prevented them from paying their mortgage.
Governor Quinn said the program has been a success because it has helped over 9,000 individual families. This number however does not even come close to helping people who have received a Notice of Default in the past 90 days.
In Cook County there were 8,016 New Foreclosure Notices filed in the past 90 days and another 10,456 Pending Foreclosure Sales.
I am not as confident to say Illinois Hardest Hit program was a success nor am I confident about our housing recovery. There are still too many homes going into foreclosure and too many people falling behind on their mortgage payments for me to say things are improving.
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