The national mortgage foreclosure crisis is hitting Illinois families hard. In the 40th district, the foreclosure rate is one of the highest in the state. People are falling prey to mortgage rescue schemes all the time. The lack of education of mortgage lending and legitimate foreclosure assistance programs has only added to the growing problem.
Unfortunately we are seeing foreclosure rates grow as unemployment across the state grows. For most, the issue is not that they purchased too much house for what they could afford, but that the national economic crisis has changed their circumstances. As people are losing their jobs, it is harder to keep up with mortgage payments and other bills.