House Sponsors: PANKAU. Short description: HOMEOWNER STABILIZATION Synopsis of Bill as introduced: Amends the Illinois Housing Development Act. Creates the Homeowner's Stabilization Program. Allows the Illinois Housing Development Authority to make grants to designated agencies. Provides that the designated agencies must use grant moneys to make mortgage payments on behalf of mortgagors. Sets requirements for eligibility for assistance. Requires mortgagors to repay the assistance. Requires the Authority to maintain a toll-free telephone number to inform mortgagors and the public about the Homeowner's Stabilization Program. Requires mortgagees to include a notice that the mortgagor may be eligible for assistance under the Program with notices of delinquency mailed to mortgagors. Amends the State Finance Act to create the Homeowner's Stabilization Fund. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status