Proposed HUD Cuts Could Reduce Chicago Foreclosure Help

Chicago could lose $73 million in federal funds for public housing and $25.8 million in federal funds for social services, according to a Medill Reports story published on October 20, 2011. Because of widespread cuts to the U.S. Department of Housing and Urban Development’s 2012 budget proposed by Republicans in the U.S. House of Representatives, neighborhoods throughout the city could experience an increase in foreclosures and an influx of crime, housing policy experts told Medill.

“If the HUD fund goes away and people can’t get help, we’ll see many people leaving their homes before they even have to,” Braden Listmann, housing policy director of Action Now in Chicago, told Medill. “They go into foreclosure because of that and it has a domino effect on the whole neighborhood.”

Action Now, a grassroots organization for working families that provides counseling services to homeowners at risk of losing their homes to foreclosure, depends on HUD funding. Are you concerned about additional options for foreclosure help going away?

If you are being threatened with foreclosure, you should know that a Chapter 13 or Chapter 7 bankruptcy could not only help you get your finances in order, but could also keep you and your family in your home. Our Chicago bankruptcy lawyers will be happy to answer all of your questions about the process when you contact our firm to set up a consultation. Even if you have never heard of a bankruptcy means test , our firm will assist you in becoming debt free and credit rich.

Benjamin Brand Services – Chicago bankruptcy attorneys

Aldermen, Teachers Seek Safe Passages

“The foreclosure crisis is taking a toll on our city,” Alderman Bob Fioretti told the Chicago Tribune on October 2, 2011. Fioretti and Alderman Deborah Graham were joining the Chicago Teachers Union and the group Action NOW at a press conference outside Leland Elementary School in Chicago’s Austin neighborhood to announce the proposed Safe Passages ordinance.

The Tribune said banks would be required to “hire watchmen from 8 a.m. to 4 p.m. to keep an eye on vacant properties within a thousand yards of a school,” or face fines if the city council approves the measure. The teachers union says the shift to longer school days for some locations makes the matter more urgent, and the district has boosted funding for its own program that uses “community watchers to monitor students traveling in rough neighborhoods,” according to the Tribune.

How has the foreclosure crisis affected your neighborhood? Are you personally seeking foreclosure help ? Our Chicago bankruptcy lawyers believe that a bankruptcy means test can be a solid first step in helping improve the situation in your own home. A Chapter 7 or Chapter 13 bankruptcy can help reduce or eliminate your debt as well as provide a fresh start for your credit. Contact our office today to set up an initial consultation. And if foreclosures are increasing the number of bank-owned eyesores in your neighborhood, our Chicago bankruptcy attorneys want to hear what you think. Share your feelings with us below.

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