Helping Homeowners: Rep. Willis & Office of Illinois Attorney General to Host Free Seminar on Forecl

MELROSE PARK, Ill. – As part of her continuing effort to look out for struggling homeowners, state Rep. Kathleen Willis (D-Addison) will be hosting the Office of the Illinois Attorney General for a free seminar concerning home foreclosures on Monday, September 16th at 6:00 PM at the Melrose Park Village Hall Multi-Purpose Room, located at 1000 N. 25th Ave. in Melrose Park.

“The economic downturn and the collapse of the housing market have devastated communities as foreclosures seemed to spread like wildfire,” said Representative Willis. “I am hosting this event for residents to come and learn about some of the options that may be available to help them protect their homes and their families from foreclosure.”

Recently, Attorney General Lisa Madigan, in conjunction with other state attorneys general, the U.S. Department of Justice and the U.S. Department of Housing and Urban Development, secured a settlement with the nation’s largest banks that has provided $25 billion in assistance to homeowners harmed by fraudulent foreclosure and mortgage servicing practices. The settlement is the second largest ever obtained through joint action of state attorneys general.

Besides providing much-needed mortgage relief for homeowners in Illinois and across the country, the settlement set tough new mortgage servicing standards aimed at preventing future abuses by mortgage lenders in the foreclosure and servicing process and avoiding the bureaucratic nightmare many consumers have faced in trying to save their homes through loan modifications.

“The recent settlement secured by the Illinois Attorney General is a small step in the right direction for working to heal the neighborhoods harmed by the home foreclosure crisis,” said Willis. “This event is aimed at educating and informing homeowners about the latest efforts to combat foreclosures and where to turn to for help.”

Kathleen Willis is serving her first term in the Illinois General Assembly as State Representative of the 77th District, which includes O’Hare Airport and portions of Addison, Bellwood, Bensenville, Franklin Park, Maywood, Melrose Park, Northlake, Stone Park, and Wood Dale.