Governor Quinn Signs Law to Fast-Track ForeclosuresCHICAGO (AP) - Gov. Pat Quinn has signed a new law that's designed to speed up Illinois' foreclosure process.
The governor's office says the law will help restore neighborhoods and property values by decreasing the time a home sits empty and getting properties back on the market. The foreclosure process now takes nearly two years, and the law is designed to shorten that to a few months.
Quinn says the bill also will allow the state to invest in Illinois families by preventing foreclosures in the first place. The law, for example, will provide about $13 million each year for housing counseling assistance, which is designed to help 18,000 households struggling to keep their homes. The law takes effect June 1.
See other LocalNews news:With Upcoming Time Change, Salem Fire Stresses Safety
Ameren Illinois to Help Past Due Customers
Jefferson County Ranks Highest in Child Abuse in Illinois, Stats Say
Alam Clock History Lesson Coming to Centralia Museum
Woman Killed when Gun in Donated Clothes Fires