METEC’s 2011 Homeowners Fair 2011 Offers a Wide Array of Home Buying Information and Assistance

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METEC hosts its 2011 Homeowners Fair on Saturday, March 12 from 9 am to 2 pm at PARC in Peoria. The fair will include free workshops on all aspects of home buying, information on reverse mortgages, immediate assistance to help struggling homeowners prevent foreclosure through Illinois’ Homeowner Protection Act, and certification for downpayment assistance to qualifying home buyers.

Homeownership is an important avenue to building wealth and acquiring financial stability.

METEC’s hosts its 2011 Homeowners Fair on March 12 from 9 am to 2 pm at PARC, located at 1913 Townline Road in Peoria. Featured at this year’s fair are: downpayment assistance for first-time borrowers purchasing their first home, information about reverse mortgages, and immediate assistance to help struggling homeowners prevent foreclosure through Governor Pat Quinn’s Mortgage Relief Project. Congressman Aaron Schock will be present.

Cheryll Boswell, METEC Executive Director, commented, “It is our goal to break down the barriers to home ownership. At the Homeowners Fair we do that by bringing together agencies, exhibitors and other resources, all in one place for the convenience of local homeowners and those who want to be homeowners. We strongly believe that homeownership is an important avenue to building wealth and acquiring financial stability. That is why we named the 2011 Homeowners Fair “Opening Doors to Homeownership and Changing Lives.”

Free Workshops: Free workshops will be held from 9 a.m.-1 p.m. Homeowners will receive helpful advice about down payment and closing cost assistance, mortgage refinancing, foreclosure prevention, legal rights, credit counseling and avoiding scam artists.

Down payment Assistance Certification: Borrowers interested in buying a home and using the City of Peoria down payment funds will able to obtain their certification at the event if they pre-register for the free workshops and bring in required documents listed below.

Housing Counseling: Homeowners can also obtain private, one-on-one housing counseling with HUD-certified counselors. Be sure to bring your latest mortgage documents; Ameren CILCO bills, mortgage statements, two most recent pay stubs, proof of income, bank statements, tax return 2009 or 2010, and your state ID or driver’s license.

Mortgage Relief: The Fair provides struggling homeowners with financial counselors who assist them in getting the resources they need to keep their homes. Homeowners who have recently fallen behind on their mortgage payments can obtain a 90-day grace period by entering housing counseling, according to the Homeowner Protection Act, which was signed into law by Governor Quinn in 2009. Administered by METEC, the Illinois Department of Financial and Professional Regulation and the Illinois Housing Development Authority, property owners can take advantage of state and federal programs on-site at the Fair’s Mortgage Relief Project outreach. (The law requires that all lenders and loan servicers notify homeowners who are at least 30 days late on their mortgage payments that they have 30 days to seek housing counseling to get their loan back on track. If a homeowner enters housing counseling, they get an additional 30-day grace period on foreclosure in order to work out a payment plan or refinance option.)

For more information or to receive immediate assistance in advance of the March 12, event, please call METEC at 309 676-3832 or IDFPR’s toll-free consumer hotline (800) 532-8785 during regular business hours.

METEC:
METEC’s builds stability and wealth in the community by helping families and individuals obtain affordable housing through increased financial literacy. They provide both housing counseling and homeownership mentoring as an end-to-end resource to those lower-income families and individuals considering or in the process of home ownership. They assist homeowners who have fallen behind on their mortgages. The financial tools and resources offered by METEC help individuals control their financial future. METEC also provides other outreach programs. You can find more information on METEC at http://www.metec1.org or by calling 309-676-3832.

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