In the wake of an accelerating number of foreclosures being filed in Evanston, the City’s staff has prepared information on Foreclosure Prevention and Tips, which will be distributed to all Evanston households in the City’s Fall Newsletter in late August. The City will also post the information on its Web site.
The Foreclosure Prevention Tips recommend that homeowners contact their lender as soon as they have a problem making a mortgage payment and that homeowners not ignore mail from their lenders. The Tips say, “Be open to exploring many possible solutions with your lender. Avoiding foreclosure does not always mean you will be able to keep your home. However, it could mean the difference between having no control – losing everything you’ve invested in your property and being evicted – and being in control – making your own financial decisions and being better prepared for the future.”
The Tips also recommend that homeowners seek assistance from a trained foreclosure-prevention counselor if they have trouble reaching their lender, if they do not understand what their lender is saying, or if their lender does not appear willing to work with them. Two local agencies that provide free individual counseling are
CEDA Neighbors at Work, 1231 Emerson St., Evanston, 847-328-5155 (Martha or Sue). Free individual counseling may include debt restructuring, establishing reinstatement plans, seeking loan forbearance and managing household finances.