Welcome to the Illinois Attorney General's
Help for Homeowners page.
If you are behind in your mortgage payments, the materials on this page contain important information about the steps you should take to prevent foreclosure and avoid falling prey to foreclosure rescue scams. You may also contact the Attorney General's Homeowner Helpline at (866) 544-7151 to learn more about your options or to report a predatory mortgage lender.
Additionally, if you are in foreclosure, you should be aware that Illinois law requires mortgage lenders to provide homeowners with a notice included with the foreclosure summons advising homeowners of their legal rights and options when filing a foreclosure lawsuit. To review these rights and options, please see: Homeowners in Foreclosure: Know Your Rights.
This page also contains educational materials for consumers who are shopping for a home loan. Obtaining a mortgage is likely one of the most significant financial decisions you will make in your lifetime. Asking the right questions before you choose a loan can mean the difference between obtaining a loan you can afford and losing your home to foreclosure. Reviewing the materials below will help you to know the right questions to ask.
The Attorney General's Office recently issued a report detailing $100 million in funding the Attorney General's Office has awarded to housing organizations throughout Illinois to rebuild communities that were hardest hit by the foreclosure crisis.
The funding stems from the 2012 $25 billion national foreclosure settlement that the Attorney General's Office helped lead in the aftermath of the nation's housing crisis. the Attorney General's Office counterparts in other states and the federal government reached the settlement with the nation's five largest banks – Bank of America, JPMorgan Chase, Wells Fargo, Citibank and Ally Bank – over allegations of widespread “robo-signing” of foreclosure documents and other fraudulent practices that affected struggling homeowners. The settlement was the second largest settlement ever obtained through joint action of state attorneys general.
Under the settlement, Illinois homeowners received $2 billion in direct mortgage relief. In addition, the Attorney General's Office secured $100 million in funding for the state that she allocated to legal aid programs in Illinois, foreclosure court mediation programs, housing counseling efforts, as well as programs and initiatives to help rebuild communities and provide access to housing in communities most affected by the foreclosure crisis.
As a result of the Attorney General's Office $100 million in funding, more than 55,000 homeowners were provided with legal assistance, and eight foreclosure mediation programs were created in judicial circuits in Illinois, which saved 1,100 homes. In addition, with the Attorney General's Office funding, statewide more than 3,200 homes were created or stabilized, more than 54,000 households received housing counseling help, and over 5,000 foreclosures were avoided.
National Foreclosure Settlement Report
Reverse Mortgage Disclosure
Before deciding whether a reverse mortgage makes sense for you, it's important to fully understand the terms of the loan and what other options you might have.
Consumer Fraud Hotlines
Spanish Language Toll Free Hotline: 1-866-310-8398
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