$70 million is going to help Illinois communities hit by foreclosure. Fifty-four non-profit groups and agencies will share the funding. The money comes from last year’s settlement with the country’s largest bank mortgage providers. “The purpose was always that the banks are held responsible for a lot of destruction that they caused throughout Illinois and our country,” Illinois Attorney General Lisa Madigan said.
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Additionally, Madigan has awarded $20 million to legal aid organizations, and another $5 million to foreclosure mediation programs. The advisory council that split the funding included input from housing experts from across the state to ensure areas outside of Chicago received assistance. “I’m particularly pleased that these funds are being used to expand and enhance the capacity of non-profit service providers in Central and Southern Illinois,” said Sharon Hess of the Southern Illinois Coalition for the Homeless.