Foreclosures Devastate Illinois Families and
In 2010, a record 151,000 foreclosures were filed in
Illinois, the fourth highest total nationwide.
Our state’s foreclosure rate last year was one in every 35
homes, the ninth highest rate in the country.
Foreclosures devastate families—they uproot households,
destroy credit scores, cause children to struggle in school, and more.
Foreclosures also devastate neighborhoods—vacant and
abandoned properties depress home values, weaken the tax base, and breed
crime and arson.
Municipalities are left to bear the burden of securing and
maintaining vacant and abandoned properties, costs that can exceed $30,000
for each property.
Foreclosures are viral—as property values spiral downward,
more homeowners will face foreclosure—creating more devastation for
families and neighborhoods, more costs for local governments, and
more problems for financial institutions.
In our community, what is the manifestation of the
What policies should be implemented to protect more
How can we hold banks/mortgage lenders accountable in
light of larger financial problems?
would like to share your story about how foreclosures are affecting you or
If you would like to learn more about
the systemic problem, how the foreclosure process works...
And ultimately, if you would like to
get involved in working towards creating a local solution and/or advocating
for municipal, state, and federal policies...
Bharathi Gunesekaran at 773 549 1947 X391 or firstname.lastname@example.org
Is your building in foreclosure? Click
here to track it online.
Tenants Q and A about rights and responsibilities [see
attached Tenant Q A]
Lawyers Committee for Better Housing
(312) 784-3527 http://lcbh.org/
Metropolitan Tenants Organization (773) 292-4988.
Tenants, learn about your rights and receive pro-se
Circuit Court of Cook County Mortgage Foreclosure Mediation
Program. Homeowners, as soon as you
receive a foreclosure summons, go to this program to make the bank work with
you to refinance your loan – BEFORE you face the foreclosure court process!