LUCHA has once again been awarded under the Illinois Housing Development Authority (IHDA)’sForeclosure Prevention Program! The Foreclosure Prevention Program is in its sixth round and provides funding to support housing counseling and foreclosure prevention outreach. While it might appear that there is a reduced need to fund foreclosure mitigation services due to the continued recovery of the housing market, foreclosure continues to threaten sustainable homeownership opportunities for marginalized groups that lost the greatest shares of wealth as a result of the housing bubble bursting in 2007. A 2017 report from the University of Illinois at Chicago states that the foreclosure crisis impacted most Latinx neighborhoods at higher rates than it impacted housing stability in Chicago overall; as a result, Latinx neighborhoods have experienced instability, housing insecurity and high rates of family displacement.
With these funds, LUCHA will continue to provide culturally-relevant housing counseling and education services – including foreclosure prevention outreach, group education and individual counseling – at no cost to clients with the goal of promoting housing stability, sustainable homeownership and generational wealth-building.