Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 386 - FORECLOSURE PREVENTION PROGRAM GRADUATED FUND › Subpart A - GENERAL RULES › Section 386.103 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
The following terms used in this Part shall have the
				  following definitions:
"Act": The Illinois Housing Development Act [20 ILCS 3805
				  ].
"Applicant": A prospective Counseling Agency making an
				  Application for a Grant.
"Application": An application to the Authority on the
				  Authority's form for a Grant completed by a prospective Counseling
				  Agency.
"Appropriation": The annual Appropriation of funds for the
				  program by the Illinois General Assembly from the Foreclosure Prevention
				  Graduated Fund to the Illinois Department of Revenue for the Authority,
				  including any other funds appropriated for this purpose.
"Attorney General": The Illinois Attorney General.
"Auditor General": The Illinois Auditor General.
"Authority": The Illinois Housing Development
				  Authority.
"City": The City of Chicago.
"Commitment": A contract executed by the Authority and a
				  Counseling Agency under which the Authority agrees to make a Grant to the
				  Counseling Agency. Each Commitment shall contain a provision to the effect that
				  the Authority shall not be obligated to provide funds under the Commitment if
				  the Authority has not received sufficient funds from an Appropriation.
"Computer and Equipment Expenses": Computer and equipment
				  costs incurred by a Counseling Agency in connection with the administration of
				  the Grant.
"
Counseling Agencies": A housing counseling agency
				  approved by HUD
(Section 7.30(b-5) of the Act).
"Eligible Uses": Shall have the meaning set forth in Section
				  386.302.
"Foreclosure Prevention Graduated Fund" or "Fund": A fund
				  created in the State Treasury for the collection of certain fees as set forth
				  in Section 15-1504.1 of the Illinois Code of Civil Procedure [735 ILCS
				  5/15-1504.1] paid by a plaintiff at the time of a
				  filing of a foreclosure complaint in connection with residential real
				  estate.
"General Operational Expenses": Operational costs incurred by
				  a Counseling Agency in connection with the administration of the Grant.
"Grant": The portion of the Appropriation granted by the
				  Authority to the Counseling Agencies for Eligible Uses under the
				  Program.
"Approved Housing Counseling":
In-person counseling
				  provided by a counselor employed by a Counseling Agency to
				  all
borrowers, or documented telephone counseling if a hardship
				  would be imposed on one or more
borrowers. A hardship shall
				  exist in instances in which the
borrower is confined to his or
				  her home due to medical condition, as verified in writing by a physician, or
				  the
borrower resides 50 miles or more from the nearest
				  Counseling Agency. In instances of telephone counseling,
				  the
borrowers must supply all necessary documents to the
				  counselor at least 72 hours prior to the scheduled telephone counseling
				  session
. (Section 7.30(b-5) of the Act)
"HUD": The U.S. Department of Housing and Urban
				  Development.
"Program": The Foreclosure Prevention Graduated Program
				  authorized by Section 7.30(b-1) of the Act.
"State": The State of Illinois.
"Technical Assistance": Counseling Agencies activities
				  involving:
planning for Housing Counseling; or
assistance with an Application.