SWOP featured in local news media regarding signing of foreclosure grace period legislation

SWOP executive director Jeff Bartow was featured in Chicago news outlets on recent bill signing of foreclosure grace period legislation sponsored by State Senator Jacqueline Collins.

The law would give homeowners facing foreclosure an additional 90 days to remain in thier homes. Lenders would be required to inform borrowers that they are delinquent in their payments in the first 30 days, then send a letter to borrowers informing them that they have an additional 30 days to seek counseling from a HUD certified counseling agency. Borrowers would then have an additional 30 days to report this information on a payment plan back to their lender. SWOP has worked on the issue of foreclosures and predatory lending for more than a decade. To view these articles, please click on the links below:

http://abclocal.go.com/wls/video?id=6746289

http://cbs2chicago.com/video/?id=57173@wbbm.dayport.com

http://www.nbcchicago.com/news/local/Homeowners-Safety-Net-.html

http://www.chicagotribune.com/news/local/chi-quinn-foreclosureapr06,0,1044366.story