Peter Francis Geraci clients are applying under www.Illinoishardesthit.org

Peter Francis Geraci clients are applying under www.Illinoishardesthit.org for up to 35,000 available through a five-year forgivable loan, if their income is been reduced 15%, and they meet other requirements. Mr. Geraci also encourages those whose homes are worth less than the mortgage, or what is called “underwater”, at www.IHDA.org, or calling 1-877-456-2656. Geraci said “If your home is underwater, but your mortgage is current for the last 12 months up to 50,000 may be available to reduce the mortgage balance.” National studies have shown that Chicago homeowners in the south suburbs are indeed, hardest hit, having as many as 50% of the housing worth less than the mortgage burden it carries. This is a valuable program to undo some of the frenzied lending that took advantage of lower income homeowners