Help just phone call away for anxious area homeowners

A bad problem gets worse when you don't know how to fix it.

The millions of homeowners who hold mortgages adjusting to much more expensive payments and those who are behind on their mortgage payments are often paralyzed with fear and bewilderment.

But answers may be literally around the corner. Chicago is dotted with neighborhood and community organizations with trained housing counselors who can offer suggestions on how to deal with a looming foreclosure. They can also help decipher a mortgage contract, letting borrowers know just how much their payment is likely to go up.

Similar resources are available in suburban areas, too.

Counselors aren't lawyers, underscores Judy Graves with the DuPage Homeownership Center, Wheaton. They can't offer legal advice, but they can explain how the foreclosure process and mortgages work.

For example, a borrower behind on his mortgage payments can request a "work-out" application from a lender, says Graves. The counselor can help fill out the form, which seeks information including the borrower's income and debts.

About 65 percent of the people who seek a counselor through ACORN Housing avert foreclosure, says Michael Shea, executive director. Part of that success comes from counselors' ability to communicate with the lender.

"A lot of these subprime servicers are deficient in customer service," says Shea. "With the larger mortgage [companies], we have a direct phone number and we present what we think is a reasonable proposal."

This is just a partial listing of the resources available. Other local sources may be found through the U.S. Department of Housing and Urban Development's help line, 800-569-4287.



CHICAGO

*ACORN, 209 W. Jackson Blvd. People wanting help with foreclosure must call its hot line, 888-409-3557 to secure an appointment; some help is available via phone. Calls should be returned within 48 hours. Counseling available in seven languages.

*City of Chicago 311 help line. Any city resident can dial 311 and be connected with one of three credit counseling agencies that provide free mortgage help. Calls not immediately taken should be returned by the next business day. Spanish counseling is available.

*Neighborhood Housing Services of Chicago Inc. Each office offers counseling. Call for an appointment -- usually available within two weeks. The central, Back of the Yards and Chicago Lawn/Gage Park locations have Spanish counseling..

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source: chicagotribune.com