• The Underwhelming Results of Foreclosure Outreach

    The video above features then-Chicago Mayor Richard M. Daley discussing outreach and legislative initiatives aimed at providing foreclosure assistance to thousands of struggling residents in the city. On July 12, 2012, the Chicago Tribune reported that two reports out of Washington, DC, indicated that national foreclosure outreach programs were only helping a few of the many homeowners in need.

    The Government Accountability Office (GAO) “specifically looked at the outreach to borrowers who were eligible for a free, independent review of their 2009 or 2010 foreclosure actions to see if they suffered financial hardship and were due remediation,” the Tribune reported. While 95 percent of the 4.3 million letters mailed directly to borrowers nationally were successfully delivered, only 5.3 percent had responded as of June.

    Reuters reported that New York City Department of Education family liaison worker Keturah Miller was one of the millions receiving a letter, but said it “still made no sense to her” despite her having read it over four times. “I can read the words, but the meaning of what they’re saying? That’s the confusing part for me,” Miller told Reuters.

    According to the Tribune, another report by the Office of the Comptroller of the Currency found that as of May 31, only 7,607 of the 197,836 borrowers who received letters in Illinois had requested a review of their case. That translates to a response rate of 3.8 percent.

    On Friday, we will discuss the latest proposal in Chicago regarding foreclosure help , but you should know that there are options available right now that can help you and your family delay or even avoid foreclosure. Our firm can help you better understand the benefits of filing Chapter 7 or Chapter 13 bankruptcy when you contact us at (866) 930-7482.

    Benjamin Brand Services – Chicago bankruptcy lawyer

  • The Young and the Homeless

    An increase in the number of people needing foreclosure help combined with a lack of affordable housing and a state unemployment rate higher than the national average has led to an increase in youth homelessness in Chicago, the Chicago News Cooperative reported on November 4, 2011. Chicago Public Schools data for September showed a record high of 10,660 homeless students enrolled in Chicago’s classrooms this fall, a 16 percent increase over last year.

    Chicago is entering the ninth year of a 10-year Plan to End Homelessness, but the Cooperative noted that the initiative overlooked the young homeless people who can be most vulnerable when living on the streets ever since then-Mayor Richard M. Daley started the program in 2003. With most initiatives concentrating on the chronically homeless and people with disabilities, the city is now working on a new strategy for ending homelessness in Chicago without a 10-year deadline. According to the Cooperative, the Chicago Alliance to End Homelessness identified two “special populations” for particular attention: youth and ex-offenders.

    If you are facing foreclosure and trying to keep your home so your kids will not end up on the streets, a bankruptcy means test could be your first step toward ending creditor harassment. Our Chicago bankruptcy lawyer can help you set up your own Chapter 7 or Chapter 13 plan that will allow you to keep your home and reestablish credit.

    Benjamin Brand Services – Chicago bankruptcy attorney