City of Chicago

 Resources and workshops for homebuyers, renters and property owners will be available at a “Foreclosure and Housing Resource Fair” on Saturday, June 2, in the Belmont-Cragin community.
 
Co-sponsored by Ald. Ray Suarez (31st) and the Department of Housing and Economic Development (HED), the free event will include 20 exhibitors that specialize in foreclosure prevention, mortgage modification, property taxes, homeownership opportunities, and related issues.
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The City of Chicago launched the Micro-Market Recovery Program, a coordinated effort among the City, not-for-profit intermediaries, and non-profit and for-profit capital sources to improve conditions, strengthen property values, and create environments supportive of private investment in targeted markets throughout the city.
 

Interested in buying a renovated home from the City of Chicago Neighborhood Stabilization Program? 
 
Find out more about the benefits of buying an NSP home, and learn about the requirements to buy. 
 

By Bill Healy
City of Chicago NSP
 
Chicago Lawn’s sturdy brick two-flats and bungalows, lined up like soldiers in a row, are the personification of a certain Chicago spirit – tough, resilient, humble and enduring. Good thing, too, because those buildings have stood up to a lot over the years – racial upheaval, unemployment cycles, and most recently a series of foreclosures that have left buildings on many blocks boarded up and abandoned.
 

Mayor Rahm Emanuel announced the Micro-Market Recovery Program, an innovative new program for Chicago that will address foreclosures and stabilize property values in key neighborhoods throughout the city.
 

You are cordially invited to attend an open house, cook out, and trolley ride to showcase Neighborhood Stabilization Program homes in Chicago Lawn.
 
 
Buyer Incentives with All NSP Properties
1. Purchase home with $1,000 or 1% down payment 
2. Newly rehabbed homes (Move-in ready)
3. Energy efficient appliances
4. Closing cost paid up to 3% Read more »

It was a blustery April Saturday in Humboldt Park – rainy, cold and in no way conducive to a walking tour of houses for sale, particularly when buyers remain few and far between.
 
But that didn’t stop more than 100 home owner wannabes from making a combination trolley/walking trek of five formerly vacant, foreclosed Humboldt Park houses that have been renovated through the Neighborhood Stabilization Program (NSP) and are now for sale to buyers of modest means.
 

The “mission” of New Pisgah Missionary Baptist Church, in Auburn Gresham, goes way beyond shouting distance of its physical facility on South Racine Avenue. The church’s community service organization is playing a major role in addressing the foreclosure issue that’s bedeviling Auburn Gresham and many other Chicago neighborhoods. Through the federal Neighborhood Stabilization Program, it’s currently rehabbing six vacant, foreclosed houses comprising 14 homes or apartments in Auburn Gresham and one 7-unit building in South Shore.

 
Crystal Kimbrough’s search for the perfect house began three years ago, when she met Rose Hughes, a realtor with a gentle smile who was relatively new to the world of real estate.
 

Worried About Foreclosure? Having Trouble Paying Your Mortgage?
Get help from a trusted source: The City of Chicago’s Borrower Outreach Days
 
• Loan work-out sessions with lenders and counseling agencies
• Free legal assistance on foreclosure issues 
• Information about mortgage refinance options 
• Information about financial literacy programs
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