Legal Help for Underwater Homeowners

ROCKFORD (WIFR) -- It's been months since five of the nation’s largest banks settled with Attorney Generals from across the country, and now the Stateline is starting to see some of the benefits. Attorney General Lisa Madigan says she will allocate $4.5 million to Prairie State Legal services to help counsel homeowners who may be underwater on their mortgages. The pro-bono law firm will be able to hire new staff members to help borrowers facing foreclosure or even those who have already been kicked out. Madigan says getting legal help can make all the difference.

“If somebody has an advocate they are almost twice as likely to get a modification or a good resolution for themselves and their family. Without representation, unfortunately, most people are going to lose their home,” said Attorney General, Lisa Madigan.

Starting October 1st, Prairie State Legal Services will open a toll-free foreclosure hotline at (866) 544-7151. Consumers seeking more information on the national settlement can also visit www.illinoisattorneygeneral.gov/consumers/bankforeclosuresettlement.html for more information.


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