Chicago's Southwest Side Fix Your Mortgage Event Happens July 24; City of Chicago, Neighborhood Housing Services of Chicago and Attorneys' Title Guaranty Fund Co-Sponsor

Online, July 6, 2010 (Newswire.com) - CHICAGO - Neighborhood Housing Services of Chicago, Inc. (NHS), the City of Chicago and Attorneys' Title Guaranty Fund, Inc. (ATG) are co-sponsoring a fourth, free "Fix Your Mortgage" (FYM) foreclosure-prevention event. This will be the second FYM event this year on Chicago's Southwest Side. The goal is to help qualified homeowners at risk of foreclosure to modify their loans, keep their homes and lower their payments.

The event will take place from 9:30 a.m. to 2 p.m., on Saturday, July 24, at Little Village Lawndale High School Campus, 3120 S. Kostner Ave., Chicago, Ill. 60623.

Chicagoland ranks third among the nation's metro areas where homeowners have received mortgage help through the Obama administration's Home Affordable Modification Program (HAMP), according to the Making Home Affordable Program Servicer Performance Report released by the U.S. Treasury Department on June 21. In the U.S., 5.1 percent of HAMP activity occurred in the Chicago area.

According to the Woodstock Institute, in the first quarter of 2010, the city of Chicago and Cook County had 4,995 and 10,449 new foreclosures filings, respectively. Also in the city of Chicago, completed foreclosure numbers jumped 113 percent from the fourth quarter of 2009 to the first quarter of 2010.

"We are proud that through our ongoing "Fix Your Mortgage" events we have helped thousands of at-risk homeowners apply for loan modifications and greatly reduced the number of homes that might have otherwise gone into foreclosure," commented Ellen Sahli, first deputy commissioner, Chicago Department of Community Development. "We hope that homeowners will take advantage of the free assistance available to help save their homes."

Chicago homeowners like Jesus Cardenas, who nearly lost his home to foreclosure, have benefited greatly from HAMP. Prior to learning about the Fix Your Mortgage events, Cardenas got caught in a scam - he paid $3,000 for mortgage assistance, and still did not receive a loan modification.

"After falling eight months behind on my mortgage payments, I learned about Neighborhood Housing Services of Chicago" said Cardenas. "I sought help from NHS and got a loan modification. It lowered my payments from $1,982 to $1,262 and allowed me and my family to keep our home."

"With Chicago homeownership at an eight-year low, foreclosure prevention efforts become even more important for stabilizing communities and strengthening the housing market," stated Michael van Zalingen, director of home ownership services at NHS of Chicago. "Based on results from previous events, these services can more than double a homeowner's chances of getting a loan modification."

At the Fix Your Mortgage events, volunteer real estate attorneys, City of Chicago staff, NHS staff and other HUD-certified counselors (including those speaking Spanish and Polish) review homeowners' paperwork to determine if they qualify for assistance under the "Homeowner Affordability and Stability Plan" - known as "Making Home Affordable" (http://www.makinghomeaffordable.gov). If so, a loan modification application is prepared and submitted to the loan servicer THAT DAY via the Internet.

"ATG volunteer real estate attorneys are proud to be part of this great effort to help people at a time when State of Illinois budget cuts have limited homeowners' access to much-needed legal assistance," stated Peter Birnbaum, president and CEO of ATG.

For more information or to register, call NHS at 773.329.4185 (English) or 773.329.4181 (Spanish). Pre-registration is encouraged.

Additional information can be found at the following Websites:
City of Chicago: http://www.cityofchicago.org/city/en/depts/dcd/provdrs/afford_hous/svcs/fix_your_mortgage.html
NHS: http://www.nhschicago.org/content/page.php?cat_id=0&content_id=273, or
ATG: http://www.atgf.com/tabid/1158/Default.aspx.

Additional Chicago "Fix Your Mortgage" events scheduled in 2010, include:
• August 21, 9:30 a.m. to 2 p.m., Northside College Prep High School, 5501 N. Kedzie Ave.
• October 16, 9:30 a.m. to 2 p.m., Westinghouse College Prep, 3223 W. Franklin Blvd.

Neighborhood Housing Services of Chicago, Inc.
A nonprofit organization established in 1975, Neighborhood Housing Services of Chicago, Inc. (NHS) is committed to offering Chicago residents affordable resources so that they can buy, maintain and sustain their homes. It partners with residents, block clubs, neighborhood organizations, financial institutions, the City of Chicago, insurance companies, corporations and foundations so that families can protect and preserve their single biggest investment-their homes. NHS is a charter member of the NeighborWorks® America network. Today, there are more than 230 network organizations working to revitalize communities with affordable mortgage financing and comprehensive homebuyer counseling.

Attorneys' Title Guaranty Fund, Inc.
Through its nearly 4,000 member attorneys across Illinois, Wisconsin and Indiana, Attorneys' Title Guaranty has presided over more than 2.5 million home closings and provided homebuyers with competitively priced title insurance since 1964. The only bar-related title insurance company based in Illinois, ATG has built a significant market share by providing excellent service at competitive prices. It has a financial stability rating of "A Prime Unsurpassed" from the independent ratings bureau, Demotech.

Media Contact: Jason Sherman, SHERMAN communications & marketing, P: 708-445-8598
[email protected], www.shermancm.com, Chicago public relations firm