Castro highlights mortgage assistance for homeowners

• Mortgage Assistance
• Illinois Homeowner Assistance Fund
• Financial Relief
• Illinois Homeowners

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ELGIN – State Senator Cristina Castro is encouraging homeowners who had trouble making mortgage payments due to the COVID-19 pandemic to take advantage of an upcoming mortgage assistance program that will open for applications on Tuesday, Nov. 1.

“This program will provide crucial security to homeowners in Illinois who have struggled during the pandemic,” said Castro (D-Elgin). “Families should not face foreclosure and homelessness due to their inability to make all mortgage payments in full while a global pandemic was devastating the economy and our communities.”

The Illinois Homeowner Assistance Fund, administered by the Illinois Housing Development Authority, will provide up to $60,000 in mortgage assistance to eligible homeowners — paid directly to the servicer, taxing body or other approved entity — while homeowners work to regain their financial footing. Whether homeowners have a mortgage, a reverse mortgage, or are mortgage-free, the program can fund past due housing payments and up to three months of prospective mortgage payments.

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Castro highlights college affordability and debt relief opportunities

• Student Loans
• Student Loan Debt
• Higher Education
• College
• Eduction
• Public Service Loan Forgiveness
• Illinois Student Assistance Commission

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ELGIN – As college application season kicks off, State Senator Cristina Castro is encouraging students and their families to take advantage of several state and federal relief opportunities related to financial aid, student loans and college affordability.

“Students and their families deserve to be informed and given resources to make higher education as accessible as possible,” said Castro (D-Elgin). “As the cost of college continues to rise, I am hopeful this relief will support students facing economic hardship and those with limited access to resources.”

Under the federal plan for one-time student loan forgiveness announced recently by the president, students who received Federal Pell Grants can have up to $20,000 in debt forgiven and students with non-Pell Grant loans can have up to $10,000 in debt forgiven if their individual income is less than $125,000. The application is available at studentaid.gov and must be completed by Dec. 31, 2023.

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Castro encourages financial institutions to get involved in Bank On Illinois program

• Bank On Illinois
• Banking
• Financial institutions

ELGIN – To highlight the ongoing success of community and financial organization partnerships, State Senator Cristina Castro is encouraging credit unions, community organizations, service groups and other financial institutions committed to improving the financial stability of Illinois residents to join the Bank On Illinois coalition.

“Middle class families in Illinois have suffered from the ill effects of crippling bank fees for long enough,” said Castro (D-Elgin). “I’m proud to have sponsored and fought for the passage of legislation that gives working families in Illinois some peace of mind, and I’m glad to see it working to financially empower residents across our state.”

The Bank On Illinois initiative, passed in 2019, established a commission to monitor banking practices across the state to ensure that people in Illinois have access to bank accounts that offer fair financial service options, including no maintenance fees, low or no minimum deposit requirements, low or no overdraft fees, and methods to open accounts using forms of identification other than the traditional driver’s license or state ID card.

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Castro to host document shred day in Carpentersville

• Community Event
• Shred Event
• Carpentersville

CARPENTERSVILLE – To provide residents with a secure option for shredding documents containing personal information, State Senator Cristina Castro is hosting an event in Carpentersville offering free, safe discarding services.

Shredding trucks will be available at the Dundee Township Park District Adult Activity Center, located at 665 Barrington Ave., from 9 a.m. to 11 a.m. on Saturday, Sept. 24. Only paper materials will be accepted, and small paper clips and staples do not need to be removed.

“In 2021, there were nearly 1.4 million reports of identity theft received by the Federal Trade Commission,” said Castro (D-Elgin). “Many of us have documents containing personal information piling up in our homes, so I encourage families to be proactive by safely disposing those documents.”

The event is hosted in partnership with KCT Credit Union and State Representative Anna Moeller. Examples of documents with personally identifiable information that should be shredded include bank statements, outdated medical records, utility bills, canceled checks, junk mail, credit card applications and receipts.

For more information, please contact Senator Castro’s office at 847-214-8864.