SUN foreclosure prevention program comes to Illinois
Boston Community Capital’s (BCC) foreclosure relief program, the Stabilizing Urban Neighborhoods (SUN) Initiative, has started accepting applications from homeowners in Illinois.
This non-profit program buys troubled homes from lenders at fair market prices and sells them back to the original homeowners with mortgages they can afford.
This program has already received vast praise for keeping families in their own homes and preventing more properties from becoming vacant.
This initiative started in 2009 and has since kept more than 500 families from losing their homes, reducing monthly mortgage payments and principal balances by an average of 38 percent.
Homeowners who are approved for the program are offered a 30-year fixed rate mortgage with no prepayment penalty.
For more information on the SUN Initiative or to see if you qualify visit sunhomehelp.org.