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HUD- Foreclosure Information
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| The guidance in this link (and in the 'How to Avoid Foreclosure' pamphlet) is applicable to homeowners with FHA Insured loans. While a good deal of this information may apply to all homeowners in danger of losing their homes, not all of the foreclosure avoidance tools mentioned may be available to you if you have a VA or conventional loan. |
| See URL (below) for eligibility requirements |
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Chicago Homeowner Assistance Program
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| The Chicago homeowner Assistance Program was created to help homeowners whose property values rose significantly during the 2000 reassesment. The CHAP program is a low interest loan offered by the City of Chicago and the Cook County Assessor's Office, which may be helpful to homeowners who need assistance paying their property taxes. |
| To learn whether you may qualify for any of the property tax exemptions, call the Chicago Tax Assistance Center at 0. |
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Lake County- Homeowner Rehabilitation Program
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| The Homeowner Rehabilitation Program offers three different types of loans: amortizing loan, which from January-June 30, 2002, offers an interest of 5.20% fixed for 15 years, the lowest ever offered with our program. This interest rate is exclusively offered with our rehab program and cannot be found in any home equity loan. The program also offers deferred loans with 0 interest, and forgivable loans after 5 years. Improvements can be anywhere from the roof to the foundation and anything else in betweenlk: leaking windows &walls, bathrooms, electrical updates, drive ways, install new furnaces, and possibly room addition to a home... |
| -Owner occupied single-family residence only. -Your home must be located in Lake County, Illinois (except Waukegan, and North Chicago) |
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Oak Park: Single Family Rehabilitation Loans Available
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| Oak Parkers with qualifying incomes who own and live in single family houses or buildings with two to four units are eligible for federally funded rehabilitation home loans. Designed to improve the Village's housing stock, the loans are intended to bring structures into compliance with housing and building codes and to eliminate health and safety hazards, including lead reduction. Funds also may be used for weatherization and to provide accessibility for the disabled. Eligibility for the loans is determined by income limits set for the Chicago area by HUD. |
| See URL for details |
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McHenry County- First-time home buyer program
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| CAHMCO can provide downpayment and - or closing cost assistance to elible homebuyers purchasing homes in McHenry County. The amount available for homebuyers is dependent upon the needs of the household, but cannot exceed $7,000. |
| See Url (below) for eligibility requirements. |
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DuPage- Single family rehab program
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| Loan Programs Available: 3% Simple Interest &Deferred Loans Qualified homeowners may borrow up to $20,000 at 3% simple interest with as long as fifteen years to repay in low monthly payments. The second loan program allows a homeowner to borrow as muh as $20,000 with no monthly payments or interest charges until a transfer of title. The CDC Rehab Office determines qualification for these programs upon receipt of application. There loans are part of the County's CDC Block Grant Program which is funded by the United States Department of Housing and Urban Development. |
| See URL (below) for elibility requirements |
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Aurora- Reconversion Incentive Program
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| The City provides financial incentives and assistance per unit removed as long as the structure is restored to its original use. $28,000 is given for the first unit removed, $25,000 for the second, and $22,000 for the third up to a maximum grant of $75,00. Requests for waiving the maximum or the reduction to original use will be considered on a case-by-case basis. Priority is given to applications that can show a significant impact on the neighborhood by the reconversion activity. |
| Priority is given to applications that can show a significant impact on the neighborhood by the reconversion activity. |
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Village of Arlington Heights- Single-Family Rehabilitation L
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| 0% interest rehabilitation loans for low to moderate income homeowners. Financing is provided for basic repairs and maintenance such as roof replacement, driveway paving, plumbing, electric, etc. Modifications to make homes safer and more accessible for senior and disabled residents are also eligible. There are no monthly payments. Loans are repaid in full when the home is eventually sold. |
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Kane County- Housing Rehabilitation Program (HOME)
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| The purpose of the HOME program is to help homeowners rehabilitate their homes, bringing them into compliance with local housing standards. |
| Homeowners, who meet income and home value qualifications, may become eligible for a no-interest, forgivable loan for the rehabilitation. |
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HUD- Property Improvement Loan Insurance (Title I)
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| The Federal Housing Administration (FHA) makes it easier for consumers to obtain affordable home improvement loans by insuring loans made by private lenders to improve properties that meet certain requirements. This is one of HUD's most frequently used loan insurance products--by the end of fiscal year (FY) 1996, it had insured almost 35 million loans totaling $43.6 billion. The Title I program insures loans to finance the light or moderate rehabilitation of properties, as well as the construction of nonresidential buildings on the property. This program may be used to insure such loans for up to 20 years on either single- or multifamily proper |
| see URL below |
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Homewood- Single Family Rehab
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| The Village of Homewood is able to provide no interest deferred payment loans to qualifying households for building repairs. These funds are made available through the Cook County Community Development Block Grant Program. |
| Participating households must meet income and other eligibility criteria. Contact Gail Brown, Program Coordinator: Chicago Southland Development, Inc., 1655 Union Chicago Heights, IL 60411: Phone . |
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Schaumburg: Residential Rehabilitation Program
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| The village provides a deferred (0%) loan for approved rehabilitation work to qualified homeowners. Homeowners must meet income guidelines and have at least 15% clear equity on the property. The maximum income limit for a family of four is $54,400. The income limit is determined according to the adjusted gross income as defined for purposes of reporting under IRS Form 1040 series and current income. The clear equity in your home is the appraised value of the home minus the mortgage balance and all other recorded liens. Eligible rehabilitation activities include structural repairs, plumbing, heating, electrical, weatherization, and other necessary... |
| Homeowners must meet all of the village's and the Department of Housing and Urban Development's (HUD) requirements. If approved, the applicant will be put on a waiting list until funds become available to start the program. |
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Waukegan: Homeowner Assistance
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| The City of Waukegan Community Development Block Grant (CDBG) office has funding available to assist income eligible Waukegan resident with rehabilitation to their homes. The program available includes both emergency repairs and substantial rehabilitation Emergency assistance is provided for residences having problems with their homes that relate to Health and Safety issues. Included in this category are items such as leaking roofs, inoperative or dangerous furnace, waste (sewer) lines that are collapse or don't drain, dangerous electric installations, and water supply lines that no longer provide water to in-house fixtures. Emergencies are addressed immediate |
| contact our office at 0 |
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Waukegan: Rehab Program
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| The Waukegan Rehab Program has been in operation for about 25years. Assistance is available to all Low Income Waukegan residents. Applicant must reside in the home where assistance is requested for at least one year. |
| see URL (below) for more information |
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Kane County- Community Contacts, Inc.: Single-family housing
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| The purpose of the HOME program is to help homeowners rehabilitate their homes, bringing them into compliance with local housing standards. Community Contacts, Inc. began its first 'HOME' Single-Family, Owner Occupied Rehabilitation Program in 1995, and has rehabilitated over 200 homes in Kane and DeKalb counties. Funding is from the Illinois Housing Development Authority (IHDA), the DuPage Consortium, Kane County C.D.B.G., and other local and state agencies. |
| Homeowners, who meet income and home value qualifications, may become eligible for a no-interest, forgivable loan for the rehabilitation. |
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HUD- Rehabilitation Mortage Loan Insurance
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| The Section 203(k) program is HUD's primary program for the rehabilitation and repair of single family properties. As such, it is an important tool for community and neighborhood revitalization and for expanding homeownership opportunities. |
| See URL for details |
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Kane and DeKalb counties: Housing Rehabilitation Program (HO
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| The purpose of the HOME program is to help homeowners rehabilitate their homes, bringing them into compliance with local housing standards. |
| Homeowners, who meet income and home value qualifications, may become eligible for a no-interest, forgivable loan for the rehabilitation. |
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NHS: Refinance Loan
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| NHS offers homeowners a resource to refinance high-cost, improvident or predatory loans. Loans are available to owner-occupants of one- to four-unit residential properties in low- to moderate-income neighborhoods in the City of Chicago. NHS also offers credit and budget counseling for refinancing borrowers that includes such topics as budget management, debt consolidation and foreclosure prevention. |
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NHS: Refinance/Rehab Loan
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| With a refinance - rehab loan from NHS, homeowners in Chicago can refinance an existing mortgage and obtain funds for home improvements at the same time. Licensed, insured contractors must perform all home improvement work, and an NHS construction specialist will monitor the construction process. |
| See URL for details |
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NHS: Foreclosure Intervention
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| NHS provides foreclosure intervention services and counseling for families who are experiencing temporary financial difficulties and are at risk of losing their home to foreclosure. NHS staff work with homeowners and lenders to assist in keeping the home out of foreclosure. Low-interest, deferred, and - or forgivable loans may be provided and are available only for properties within the City of Chicago. Loan amounts are limited and income and other restrictions may apply. |
| See URL for Details |
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Illinois State Treasurer: Own Your Own Home Program
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| Our Own Home is a statewide program to help people buy their first homes or keep their homes from being foreclosed. The program acts like your buying partner. We tell lenders that we’ll help back up your own investment with funds from our program. Our goal is to give lenders the reassurance they need to make a loan. |
| To find our more about Our Own Home, you can call 1-888-803-HOME (1-3) |
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Albany Park: Neighborhood Improvement Program
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| Neighborhood Improvement Fund (NIF), which is part of the newly designated Lawrence - Kedzie Tax Increment Financing district (TIF). This program will make funds available to homeowners, within the TIF district, for home repairs. |
| Contact organization for more details |
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Arlington Heights- Single-Family Rehabilitation Loan Program
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| Single-Family Rehabilitation Loan Program - 0% interest rehabilitation loans for low to moderate income homeowners. Financing is provided for basic repairs and maintenance such as roof replacement, driveway paving, plumbing, electric, etc. Modifications to make homes safer and more accessible for senior and disabled residents are also eligible. There are no monthly payments. Loans are repaid in full when the home is eventually sold. |
| See URl for more details |
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NHS: Housing Emergency Loan Program
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| NHS provides foreclosure intervention services and counseling for families who are experiencing temporary financial difficulties and are at risk of losing their home to foreclosure. NHS staff work with homeowners and lenders to assist in keeping the home out of foreclosure. Low-interest, deferred, and - or forgivable loans may be provided and are available only for properties within the City of Chicago. |
| Loan amounts are limited and income and other restrictions may apply |
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Chicago Tax Assistance Program
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| A vigorous outreach program to educate and assist Chicago's families with available tax relief programs. HOW WILL THE CHICAGO TAX ASSISTANCE CENTER HELP? Informing taxpayers about available income and property tax exemptions and deferral programs. Helping taxpayers apply for available income and property tax relief. Assisting homeowners who feel their property values may have been inaccurately assessed. Educating homeowners, businesses, and citizens about the tax system. Providing legal counsel referrals to taxpayers for some income and property tax issues. |
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Chicago Adjacent Neighbors Land Acquisition (ANLAP) Program
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| ANLAP enables homeowners in certain areas of Chicago to purchase vacant, city-owned lots for less than market value. |
| See URL |
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Chicago Home Ownership Preservation Initiative/311 Campaign
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| The Homeownership Preservation Initiative (HOPI) is a partnership between the City of Chicago, Neighborhood Housing Services of Chicago, and key lending, investment and servicing institutions doing business in Chicago. The partnership seeks to preserve homeownership whenever possible and keep families in their homes through counseling, loss mitigation and loan workouts. When foreclosure is unavoidable, the partners seek to preserve the vacant properties as neighborhood assets. |
| The 311 Campaign will encourage homeowners to call 311 at the first sign of mortgage delinquency. Callers will be connected with one of three credit counseling agencies affiliated with the Credit Counseling Resource Center for a free one-hour counseling |
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IHDA Single Family Owner-Occupied Rehabilitation Program
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| A major concern of low-income Illinois homeowners is keeping up with necessary but costly repairs. This is particularly true of older homes with weathered roofs, worn siding, outdated plumbing - heating systems, drafty windows, or outmoded electrical wiring. The tough choice for limited-income people thus often becomes making major house repairs or watching homes filled with memories deteriorate around them. |
| Homeowners should apply for HOME assistance through sponsoring agencies funded by IHDA, not directly through the Authority or via the Single Family Program Department. |
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Homeowner Tax Exemptions
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| Cook County homeowners may take advantage of several valuable property tax saving exemptions. There are currently 5 exemptions that must be applied for or renewed annually: The Homeowner Exemption, Senior Citizen Homestead Exemption, Senior Citizen Assessment Freeze Exemption, Home Improvement Exemption and the Long-Time Homeowner Exemption. See URL for more details. |
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Cook County Home Improvement Exemption
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| Homeowners can make up to $45,000 worth of property improvements without an increase in property taxes for at least four years. The value varies depending on the reduction of the assessed value and the tax rates where the property is located. Any exemption that is granted will be reflected on the Second Installment tax bill. |
| This program is administered by the Cook County Assessor's Office and requires an annual application to: Cook County Assessor's Office 118 North Clark Street, Room 301 Chicago, IL 60602 |
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DuPage Shared Housing Program
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| Matches individuals who are seeking an affordable housing arrangement with residents wanting to share their homes. |
| Comply with Case Management procedures and schedule Complete applications and interviews truthfully Human Services needs to receive acceptable background checks and references |
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