Pilot project speeds loan modification applications through the system

In January, counselors at Neighborhood Housing Services of Chicago started processing applications electronically in a pilot project that’s akin to TurboTax for loan modifications. It won’t mean more homeowners will qualify for loan modifications, but they would know sooner whether they’re going to lose their homes and can plan accordingly.

“Right now, using faxes and staff, you can get pregnant and have a baby and still be waiting for a mod,” said Michael van Zalingen, Neighborhood Housing’s director of homeownership.

Read more from the Chicago Tribune

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