Dear Friend and Colleague,

During the COVID-19 crisis, one of my biggest priorities is to make sure that people are aware of the resources that are available to help them financially. Last week, we worked hard to spread the word about all of the available programs that can lend a helping hand.

If you weren’t able to join us, don’t worry! You can find links to all of our events online:

Subscribe to our YouTube channel to get all of our latest videos!

In our next Money Mondays with Melissa on May 18 at 12:30 p.m., we will be joined by U.S. Senator Tammy Duckworth, Cook County State’s Attorney Kim Foxx and Executive Director of the Illinois Housing Development Authority Kristin Faust. We’ll discuss a variety of issues, including updates on federal legislation and programs; assistance for renters, homeowners and landlords; ways to protect yourself from COVID-19 scammers and more. Register at: MoneyMondaysMay18.eventbrite.com .

I had a great discussion with Jason Knowles at ABC 7 Chicago about protecting your investment in your home and I look forward to continuing to talk about this issue and more with our great panelists!
Through our Money Mondays with Melissa, communities are asking about resources available to landlords, tenants and homeowners. We’ve listed some here:

  • If you’re struggling to pay your rent or mortgage, it’s critical to have a conversation with your landlord or bank. If you’re a tenant, work out a payment plan with your landlord. If you own a building with multiple units, your priority should be open and clear communication you’re your tenants and your lenders. This will help you know what income from the rental units to expect and to show your bank that you’re working to make your mortgage payments. If you own your own home, talk to your bank about payment plans or forbearance.

  • The Consumer Financial Protection Bureau has a list of expanded federal programs, including forbearance on federally backed mortgages for 180 days with the ability to extend for another 180 days. Their website has step-by-step advice to find out whether your mortgage is federally backed, what to do if your mortgage isn’t backed by the federal government, and more.

  • If you have specific questions about your housing situation and want to get advice on how to proceed, contact a housing counselor through the Consumer Financial Protection Bureau. To find a housing counselor in your area, visit their website.

  • All evictions and foreclosures have been suspended. This means that if you are unable to pay your rent, you cannot be evicted. For assistance, visit the city’s Family and Support Service’s Rental Assistance Program at chicago.gov, which provides financial assistance to Chicago residents in danger of eviction.

  • The Chicago Coalition for the Homeless Mutual Aid Fund is providing on-time emergency grants to individuals experiencing homelessness. This includes people who are unsheltered, staying at a shelter, or living with family and friends. For more information and to apply, visit their website.

My office will continue updating our new web page COVID-19: The Help You Need and Where to Find It on a regular basis with financial resources available to individuals, families, small businesses and non-profits. Visit us at: www.ChicagoCityTreasurer.com .

We look forward to continuing to work with you as we look toward programs that will help put us on the road to recovery. If you have any questions or recommendations about other resources, please contact my office at City.Treasurer@CityofChicago.org or (312) 744-3356.

Sincerely,
Chicago City Treasurer | ChicagoCityTreasurer.com