News

Quinn Approves Foreclosure Protection Extension

Quinn Approves Foreclosure Protection Extension

Photo: Newsradio WTAX

Gov. Pat Quinn has signed legislation to prevent lenders from selling a home if the homeowner is applying for federal mortgage assistance.

The federal Home Affordable Modification Program allows homeowners to modify their mortgage payments to make them more affordable. Quinn’s office says about 47,000 Illinois families have received modifications through the program, helping avoid foreclosure.

The bill signed today (Thursday) extends the law through the Dec. 31, 2015 deadline for the loan modification program.

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