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November 27, 2014

Illinois Governor Declares 2013 'The Year of Home Ownership'

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Illinois Governor Declares 2013 'The Year of Home Ownership'

Illinois Gov. Pat Quinn has declared this year the “Year of Home Ownership,” and it kicks off March 23 with a home buyer expo aimed at helping low- and moderate-income consumers buy a home.  

The Illinois Housing Development Authority will be on hand to provide buyers with information about affordable mortgages, cash assistance for down payments, and federal income tax credits. 

"It's not going to be a vendor fair where people just come for tchotchkes," Cami Freeman, a spokeswoman for the development authority, told The Chicago Tribune. "It's going to be housed with lenders, loan officers, and housing counseling agencies. Buyers who register for the event will sit down with a loan officer that day."

Quinn announced earlier this year that qualified home buyers will be eligible to receive thousands of dollars in financial assistance for down payments and closing costs through a state initiative known as SmartMove Trio. 

“A home is the foundation on which we build our families and our communities,” Quinn said in a recent public statement. “By encouraging home ownership, we can create jobs and grow our economy. We’re working hard to keep the Illinois housing market on the road to recovery by doing everything we can to help Illinois families buy or stay in their homes.”

The event will be targeted at first-time and repeat home buyers. 

Source: “For homebuyers and sellers, it's all about compromising,” The Chicago Tribune (March 8, 2013) and Illinois Government News Network

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