While some areas have rebounded from the housing crash, parts of Chicago are being left behind by the recovery. As a result, Neighborhood Housing Services of Chicago (NHS) is launching a campaign to provide relief to homeowners that are underwater, have a high interest rate mortgage, have experienced a financial hardship or risk losing their home to foreclosure. NHS Mortgage Relief will help homeowners know their mortgage options before some programs expire on December 30, 2016. NHS Mortgage Relief will provide eligible homeowners with one-on-one support from a housing counselor that will assess the homeowner’s current financial and mortgage situation. Programs available may include but are not limited to:

· Home Affordable Modification Program (HAMP): Helps financially struggling homeowners avoid foreclosure by modifying loans to a level that is affordable for borrowers now and sustainable over the long term.

· Home Affordable Refinance Program (HARP): Enables borrowers with little or no equity to refinance into more affordable mortgages without new or additional mortgage insurance.

· Illinois Hardest Hit Fund: Provides mortgage assistance to homeowners who have experienced at least a 15 percent income reduction due to a qualifying hardship event and who meet the eligibility criteria.

· I-Refi: Helps income-eligible homeowners who are current on their mortgage payments but owe more than their home is worth due to declining property values in their community.
Homeowners interested in learning more about mortgage relief solutions should call the NHS Mortgage Relief Hotline at (773) 329-4220. To learn more about NHS Mortgage Relief, visit www.nhschicago.org.