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The Home Affordable Refinance Program (HARP) was created by the Federal Housing Finance Agency in March 2009 to allow those with a loan-to-value ratio exceeding 80% to refinance without also paying for mortgage insurance.
SmartBuy, which the governor first introduced in 2020, distributed state taxpayer-funded debt relief to 631 borrowers who bought homes in Illinois. Pritzker said his administration paid down more ...
Although the future of a fourth stimulus check is uncertain, there is still a huge chunk of money homeowners can tap into to get relief if they are struggling with housing expenses. While...
In 2021, the state established the Illinois Property Tax Relief Fund. It’s meant to give annual property tax rebates to some homeowners. But Quinn said the state hasn’t set aside money for it.
The Home Affordable Modification Program (HAMP) is a government program introduced in 2009 to respond to the subprime mortgage crisis.HAMP [10] is part of the Making Home Affordable program (MHA), [11] established in concert with the Hardest Hit Fund program (HHF) [12] under the Troubled Asset Relief Program (TARP), a part of the Emergency Economic Stabilization Act of 2008. [13]
The process of remortgaging does not usually involve moving house or taking out a second mortgage on the property; it is in effect the transfer of a mortgage from one lender to another. [2] Homeowners may choose to remortgage for various reasons, usually to reduce the overall monthly mortgage payment amounts.
Former Illinois Governor Pat Quinn is advocating for an amendment expected to provide around $4.5 billion in property tax relief for middle-class residents by establishing a […]
The act, which went into effect on June 13, 1933, provided mortgage assistance to homeowners or would-be homeowners by providing them money or refinancing mortgages. [2] [3] [4] Sponsored by Senate Majority Leader Joe T. Robinson of Arkansas, it also created the Home Owners' Loan Corporation (HOLC), building on Herbert Hoover's Federal Loan ...