Loan Fund Aims To Help Delinquent Property Owners Keep Their Homes
(CBS) -- Tens of thousands of property owners in Cook County could lose what they own, in a sale of tax-delinquent property next month.
But now, a county commissioner is starting a move to help some of them keep their properties.
"There are 50,000 people in the property tax delinquent list," says Cook County Commissioner Richard Boykin, whose district includes the West Side and some western suburbs.
"These individuals are at risk of having their property taxes sold on April 3."
Boykin has started a fund to give some delinquent property owners interest-free loans to help pay their taxes.
So far in the fund: $155,000.
Boykin says he contributed $5,000 and Willie Wilson -- who ran for mayor and for president -- contributed $150,000.
"We need several million. We need probably about 26 million (dollars). We can't help everybody, but we're going to help as many people as we can," Boykin says.
He's even hoping some banks will contribute.
He says the West Side Justice Center will be taking applications for loans from delinquent property owners.
