Home Affordable Modification Program (HAMP): If you’re not unemployed, but you’re still struggling to make your mortgage payments, you may be eligible for the Home Affordable Modification Program (HAMP). HAMP can lower your monthly mortgage payment to 31 percent of your verified monthly gross (pre-tax) income, which usually provides savings of hundreds of dollars per month. Call 888-995-4673 to speak with a housing expert.

Home Affordable Refinance Program (HARP):  If you’re not behind on your mortgage payments but have been unable to get traditional refinancing because the value of your home has declined, you may be eligible to refinance through the Home Affordable Refinance Program (HARP). HARP is designed to help you get a new, more affordable, more stable mortgage. HARP refinance loans require a loan application and underwriting process, and refinance fees will apply.

Illinois Attorney General’s Help for Homeowners:  If you are behind in your mortgage payments, visit the Illinois Attorney General’s Help for Homeowners website for 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.

Illinois Hardest Hit Program:  The Illinois Housing Development Authority (IHDA) has partnered with the U.S. Department of Treasury to offer temporary mortgage payment assistance to households that are struggling with income loss due to unemployment or underemployment, but are working to regain sufficient income to keep their home. Borrowers may be currently experiencing an income loss or experienced one in the past that caused them to get behind on their mortgage payments. Visit the website for more information and eligibility requirements.

Mortgage Relief Project:  Governor Quinn has established the Mortgage Relief Project to help you take advantage of new government programs that can help you lower your mortgage payments, avoid foreclosure and keep your home. Visit the website to find an event near you.

 Assistance for Veterans: A new settlement may make some Servicemembers and Veterans eligible for housing relief. Relief could affect those who were wrongly foreclosed upon, wrongfully denied the opportunity to reduce their mortgage payments through lower interest rates, or forced to sell their homes for less than they were worth due to a change in station. An estimated 2-3 million borrowers could be eligible for this savings. Visit the White House website for more information.