Money Available to Buy Empty Joliet Houses

The city of Joliet issued this news release about money available to people who buy single-family homes:

Homebuyers in Crest Hill, Joliet and Lockport may qualify for $10,000 in down payment and closing cost assistance as part of the Illinois Building Blocks Program.

Administered by the Illinois Housing Development Authority, this program uses a comprehensive strategy to continue addressing the foreclosure crisis. The program encourages the reuse of vacant single-family properties and enables more working families to access currently low housing prices by making homeownership safe and affordable.

“This program brings the American Dream of home ownership closer to the reach of working families. We look forward to working with Crest Hill and Lockport on this important program,” Joliet Mayor Tom Giarrante said.

Illinois Building Blocks works to keep homeowners in their home by raising awareness of assistance available under Governor Quinn’s Illinois Foreclosure Prevention Network (IFPN), including mortgage assistance under the Illinois Hardest Hit program. Illinois Building Blocks also revitalizes communities by
turning vacant properties into valuable homebuyer opportunities for families and is open to all qualified buyers purchasing homes in the Building Blocks communities. Buyers may qualify for a 30-year fixed-rate mortgage (currently 4 percent) and $10,000 in down payment and closing cost assistance.

Eligibility:
• First-time and non-first-time homebuyers are eligible

Requirements:
• Contribute one percent or $1,000 of the purchase price, whichever is greater
• Purchase a one or two-unit property within the eligible communities
• Live in property as primary residence

Local lenders include:

• 1st Advantage Mortgage, a Draper and Kramer Company, Mark R. Grego, 630-376-0755, mark.grego@1amllc.com
• BMO Harris Bank N.A., Juliana Hackel, 630-200-2213, juliana.hackel@harrisbank.com
• First Federal Savings Banks, Terri Trotter Earley, 800-443-8780, Ext. 1220, 815-712-7848, tearley@firstfedsavingsbank.com
• Standard Bank and Trust Company, Robert Gouwens, 708-267-3169, robert.gouwens@standardbanks.com
• Standard Bank and Trust Company, Mary Morstadt, 708-499-2062, Ext. 2317, 708-227-2332, Mary.Morstadt@StandardBanks.com
• Wintrust Mortgage, Pam Wilson, 630-337-8947, pwilson@wintrustmortgage.com