Housing

CITY OF CHICAGO RICHARD M. DALEY, MAYOR

DEPARTMENT OF COMMUNITY DEVELOPEMENT

Chris Raguso

Acting Commissioner

The new Home Assiatance Program (HPA) is now accepting applications. This new program provides first- time homebuyers with down payment and closing cost assistance.

Through this program for the first time, the City will offer purchase price assistance to qualified buyers of exisiting homes, and new construction housing units like those available in the mixed- income communities that are part of the CHA Plan for transformation.

The program applies to existing single family homes, town homes, condominiums and properties of up to four units as long as they are owner occupied.

Participants in the program can receive between $10,000 and $ 40,000 based on their incomes and not to exceed 20% of the purchase price. The maximum eligible income for a two- person household is $60,300 and for a four- person household it is $ 75,400. For income and purchase price limits and assistance with the application please refer to our website at www.cityofchicago.org/dcd under the housing link.

Approved as a part of the 2010 budget, we have 1 million dollars in corporate funds to support the program. Our goal with this program is to help first-time buyers with their down payment and closing costs and stimulate the housing market.

For more information, please contact Judith Smart at (312) 744-6278 or via e-mail judith.smart@cityofchicago.org.

LOOKING FOR AFFORDABLE FAMILY HOUSING?

Register for CHA'S Family Wait List Lottery!

The Chicago Housing Authority (CHA) helps eligible * families rent new and rehabbed housing across the city.

40,000 families will be selected by lottery for CHA's Family Wait List. Those selected will be offered housing as it becomes available.

The lottery will be conducted after registration closes. each submission will have an equal chance of being selected.

REGISTER ONLINE anytime between JUNE 14 and JULY 9, 2010.

CHAwaitlist.org

To Register or for complete information, go to CHAwaitlist.org or call 1-866-7-the CHA or call 311.

* Income limits are set by the U.S. department of Housing and Urban developement and are subject to change. Visit chawaitlist.org for more details. ** For reasonable accommodations, additional languages or to find out where you can get assistancwe completeing the application, call 1-866-784- 3242.

City of Chicago

Richard M. Daley, Mayor

Equal Housing Opportunity

Worried About Foreclosure?

Having trouble paying your mortgage? Get help from a trusted source:

The City of Chicago's Borrower Outreach Days Program.

Meet with lenders and credit counselors
Loan work out sessions with lenders and counseling agencies
Access to free legal assistance on foreclosure issues
Information about mortgage refinance options
Information about financial literacy programs

To register for the Borrower Outreach Days, please call the

Department of Housing at (312) 744-8514.

HOME TO STAY FURNITURE DONATION

HELP END HOMELESSNESS

Homeless individuals can receive a Service Voucher for:

Sofas
Beds
Dressers
Dinette Sets

Call the Chicago Department of Human Services (312) 746-8545 for more information on how to donate furniture or to receive furniture.

^{10 west 35th Street, 4th Floor}

^{Chicago, Illinois 60616-3717}

^{312.949.5390 Phone}

^{312.949.0481 Fax}

^{www.lafchicago.org}

Legal Assistance Foundation

Of Metropolitan Chicago

^{Home owners who are facing foreclosure should contact their servicers to explore loss mitigation options because many servicers have recently developed new and/or expanded exisitng workout options available to borrowers. This means that many homeowners that were previously denied modifications may be eligible for workouts and able to keep their homes.}

^{Many borrowers may be eleigible for modification through the home affordable Modification Program(HAMP), which is a component of the Obama Administration's larger Making Homes Affordable Program, if their servicer has agreed to participate. A list of the fifty seven servicers that have formalized contracts with the Us Department of Treasury is available at www.makinghomesaffordable.gov. Additionally, homeowners who have loans owned by Fannie Mae or Freddie Mac may be eligible for HAMP even if their servicer is not fully participating . If a borrower is unsure about who owns their loans , they can ask their servicer directly or use the online service tools on Fannie Mae's and Freddie Mac's websites. Borrowers looking to obtain a HAMP modification should call their servicer or contact a HUD- approved housing counseling agency to review their eligibilty and begin the application process.}

^{While HAMP has become a standardized modification option for participating servicers, it is important to recognize that other workout options are still being used to keep borrowers in their homes. There are some servicers that now provide a loss mitigation representative at local banking locations so that borrowers can meet with someone to discuss their options in person. Many servicers have also developed workout options that offers borrowers modification or repayment agreements with favorable and afforadable terms. homeowners should contact their servicer directly to learn about the specific loss mitigation options that may be available to them.}

^{The Home Ownership Preservation Project (HOPP) at the Legal Assistance foundation of Metropolitan Chicago (LAF) has been able to advise and assist homeowners looking to obtain affordable modifications as part of our expanded foreclosure prevention and homeownership work due. Due to a grant from the John D. & Catherine T. Mac Authur Foundation and the Institute for Legal Assistance (IFLA). we can provide free legal counseling and representation to almost 750 more homeowners per year, HOPP is able to advise and assist homeowners with questions about HAMP eligibility, pending trial period offers, or those that have been denied modifications, as well as others facing foreclosure or with other homeownership concerns.}

^{For more information and or appointments please refer to the address and telephone number listed above.}