Grayslake event aims to help homeowners avoid foreclosure

As many as 600 people are expected to attend a free program Saturday in Grayslake that aims to help homeowners avoid foreclosure.

The Attorneys' Title Guaranty Funds Inc., the Neighborhood Housing Services of Chicago, the Chicago Community Trust, Lake County Bar Association and the Lake County Circuit Court are sponsoring the "Keep Your Home" event, with more than 100 volunteers helping homeowners seeking to refinance their mortgages.

The program will be 10 a.m. to 1 p.m. on Saturday at 1200 University Center Drive, Grayslake. Homeowners will get free legal guidance and their completed loan applications then will be faxed or e-mailed to the loan servicer that day.

"We've been seeing more people affected by the economy," said Michael W. van Zalingen, director of Home Ownership Serivces, Neighborhood Housing Services of Chicago Inc., which also participates.

"There has been a lot of people who got good loans, but they either saw their salaries cut or were laid off from their jobs," he said. "They're all hardworking families that are trying to keep their homes."

The organizations have cooperated on three other programs held in Chicago and in West suburban Cicero, which attracted 600 to 1,500 people, said van Zalingen.

The events have had a success rate of 34 percent of applicants who get approval for a modified loan, he said. He said that compares to the U.S. Treasury Department's report of a 16 percent success rate for people who seek approval of a modified loan on their own.

To preregister for the Grayslake program and obtain forms, see: www.atgf.com/tabid/1144/Default.aspx.