AUBURN GRESHAM — Homeowners can learn if they are eligible for a reverse mortgage on Aug. 27.
According to the U.S. Department of Housing and Urban Development: "A reverse mortgage is a special type of home loan that lets you convert a portion of the equity in your home into cash. The equity that you built up over years of making mortgage payments can be paid to you."
Sen. Jacqueline Y. Collins (D-Chicago) and Sen. Mattie Hunter (D-Chicago) are hosting the information session for senior homeowners at Senior Suites of Auburn Gresham, 1050 W. 79th Street from 6-7:30 p.m.
They've invited special guests Bob Palmer of Housing Action Illinois; Jeff Kelly Lowenstein, a Columbia College lecturer; Lisa Thompson Bennett from the office of Attorney General Lisa Madigan; and the Rev. Robin Hood of the Illinois Anti-Foreclosure Coalition.
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