Hope For Stressed Homeowners

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By Tom McIntyre

Story Published: Feb 14, 2008 at 4:40 PM CDT

Story Updated: Feb 14, 2008 at 6:33 PM CDT

There's some help being promised for Illinois homeowners struggling to keep up with their mortgage payments.

Governor Rod Blagojevich announced the program this morning saying that four mortgage lenders have committed 200 million dollars to a new Homeowner Assistance Pool to help people refinance their mortgages.

The Governor told reporters, "It's a real, concrete and tangible way at helping families –and keeping families in their homes—while we work to strengthen the economy".

The initiative also includes a free counseling network to help homeowners navigate a path to save their homes...

This works with a toll free phone number -- 1-888-995-HOPE.

The Governor also promised a crackdown on fraud in the lending industry.

According to the Governor's office, up to seventy–thousand Illinois homeowners could face foreclosure this year.

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