2022 Foreclosure Mitigation and Assistance - Know Your Options
ILHAF 2022 Grant Program Helping Distressed Homewoner's and Renter's
Illinois released a grant program titled Illinois Emergency Homeowner Assistance Fund aimed at helping homeowners facing a financial crisis, specifically due to the recent pandemic that has affected many homeowners and renters from 2020 to 2022. They are offering up to $30,000 in grants to some qualified applicants to help eliminate or reduce past due mortgage and property tax payments. To read more about this program, find directions to apply, and get updates, here is the website... https://www.illinoishousinghelp.org
According to the above-listed website, applications are starting in April of 2022. It is important to note there may come limited funding for programs like this, so it is hard to say how long the fund's assistance will be available. It is strongly encouraged that you start the application process as soon as possible if you wish to see if this is an option for you. I have no affiliation with the program or benefit from it; I just thought it might be helpful to some homeowners and renters that might benefit from this assistance.
Find Out if a Short Sale is Your Best Option
My experience is that considering a short sale is often the most logical option. It is worth considering other options, such as forbearance and loan modification, but these options typically re only an option if you can fix your original hardship. The bank is unlikely to forgive your debt; they will re-adjust how you pay it or delay it and often benefit from it. A Short Sale is the first line of defense to attempt to eliminate the debt and the liability.
How am I Qualified to Help You
Since the recession back in 2008, I have helped many homeowners mitigate, delay, and avoid foreclosure, often walking away free and clear with no liability. I have been a residential real estate broker for over 17 years and have specialized in short sales for more than 14 years. Short sales are complicated, but it is a viable option for those suffering financial hardship.
Express Offers - Ask About eXp's Cash Offers
eXp Realty has an exclusive program to introduce your home to cash buyers without listing the house for sale. For more details and if your home qualifies for this, please contact Raymond Kennedy at (815) 301-7007.
This program may benefit sellers pursuing a short sale or traditional sale by expediting the process since cash offers have minimal contingencies and can close quickly. The institutional cash buyers are fully vetted before being accepted into the program. Any offers would be from legitimate buyers interested in your home as a cash purchase. These are NOT wholesalers or assignment buyers but genuine cash buyers.
