Commissioners: County Mortgage Foreclosure Program Has Ways To Go
CHICAGO (CBS) -- A Cook County mortgage foreclosure program, which began last year, has proven that it's helping certain homeowners – but some commissioners believe it has a long way to go.
As WBBM Newsradio 780's Mary Frances Bragiel reports, $3.5 million were initially put into the program. The budget this year calls for $3 million.
LISTEN: Newsradio 780's Mary Frances Bragiel reports
Podcast
County Commissioner Bridget Gainer (D-10th) says the budget problem will make it difficult the fund the program next year, and that is why she's hoping legislation requiring the bank to pay foreclosure filing fees will be passed in Springfield.
"And we would be able to fund even more mediation services, and other foreclosure prevention," Gainer said.
More than 200 of the 600 homeowners who completed the mediation program were helped by it.
"But there needs to be so much more done on the issue," Gainer said.
Gainer believes the county has to become more aggressive about getting in front of the foreclosure crisis saying it's "like trying to fight a forest fire with a garden hose."
She says she would like to see communities take over the process rather than the court system, due to the county's budget problem.
