City of Peoria Home Foreclosure Information
On these pages, the City of Peoria offers information on what to do if you are faced with a home foreclosure, and how to handle the situation.
Federal Government Introduces Making Home Affordable Program
A new federal government resource aimed at alleviating some of the fiscal challenges faced by Americans is now available. The Making Home Affordable program could potentially help homeowners reduce their monthly mortgage payments either by assisting with refinancing mortgage payments or preventing home foreclosures. The Home Affordable Refinance Program is designed to give homeowners, with loans guaranteed by Fannie Mae or Freddie Mac, an opportunity to refinance into more reasonably priced monthly payments. The Home Affordable Modification Program provides eligible homeowners the opportunity to modify their mortgages to make them more affordable.
Visit www.MakingHomeAffordable.gov for in-depth information about the programs and to determine if members of your community can benefit from participating. The site outlines program eligibility requirements and also features a “loan look-up” tool, which may be useful to distressed homeowners in your community.
Here are some other helpful resources: