CHICAGO, IL – July 18, 2011 – (RealEstateRama) — Governor Pat Quinn today announced the creation of the Mortgage Resolution Fund (MRF) using $100 million of the state’s $445.7 million in Hardest Hit Fund dollars to purchase notes in the Chicago area. The Illinois Housing Development Authority (IHDA) board today approved the new program, which will enable these loans to be permanently modified to affordable levels.
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