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Illinois reopens program for struggling homeowners

Illinois reopens program for struggling homeowners

Illinois is reopening its mortgage assistance program to homeowners who haven't been able to pay mortgages because they've lost jobs or gone through a hardship like an illness or the death of a spouse.

Beginning Aug. 1, people who have suffered a hardship and had at least a 15 percent reduction in their income, along with other eligibility requirements, can apply to receive as much as $35,000 in assistance. Through the Illinois Hardest Hit program, recipients will be granted five-year forgivable loans to get through difficulties so they can avoid foreclosure. The loans may need to be repaid if a person sells the home or refinances the mortgage during the five-year term of the...

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