Foster Announces Additional Funding to Prevent Foreclosures in Illinois
Washington, D.C. – Congressman Bill Foster has announced that $151.3 million in grant funding from the Department of the Treasury will be awarded to the State of Illinois through the Hardest Hit Fund, a federal program that provides targeted aid to the states that were most severely impacted by the foreclosure crisis.
The funding announced today comes from a total pool of $1 billion in competitive grant funding distributed among 14 states. The Illinois Hardest Hit Fund has helped over 14,000 homeowners to maintain their homes while they work to regain employment and financial stability.
"I applaud the action taken by the Department of the Treasury to provide additional funding to aide Illinois homeowners who are struggling to pay their mortgages," said Foster. "People in Illinois, including many in the 11th Congressional District, were hit especially hard by the foreclosure crisis. This money will provide much needed relief for many working families."