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Housing Programs
First-time homebuyer’s assistance The Village, through its tax exempt bonding authority and in partnership with the Illinois Housing Development Authority has made available through participating lending institutions, mortgage lending assistance. To qualify, the purchaser must not have owned a home within the last three years and must have sufficient income to support a mortgage payment. The purchaser’s income must fall within the maximum allowed to qualify and the home’s purchase price must fall within the maximum limits. While not required, the Village does encourage first time homebuyers to attend a counseling session with a qualified homebuyer counseling agency. For more information, call 708.358.5424 or e-mail the Housing Division ***Foreclosure prevention assistanceOne-on-one foreclosure prevention counseling is now available via a new toll-free, telephone hotline sponsored by the Illinois Housing Development Authority. The hotline, 1.888.995.HOPE, is aimed at targeting homeowners in the early stages of mortgage difficulties – before foreclosure becomes the only remaining option. From 1999 to 2006, Oak Park averaged 84 foreclosures per year. But midway through 2007, Oak Park had 70 foreclosures, putting the Village on pace to more than double the number of annual foreclosures over the last nine years. Homeowners fearing foreclosure also are encouraged to attend Homeowner Outreach Days, a series of 30-minute workshops conducted by the Illinois Housing Development Authority. Click here for a list of workshop times, dates and locations. For more information on assistance programs available to Oak Park residents, contact the Housing Programs Division at 708.358.5424 or e-mail the Housing Division
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Copyright © 1997 - 2006 Village of Oak Park, All Rights Reserved |
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