More time for home owners facing foreclosures in Illinois

Illinois governor Pat Quinn approved the legislation that grants additional 90 days to people facing foreclosures. The new law gives home owners the right to credit counseling and creation of a payment plan to get out of the foreclosure proceedings. Together with President Obama's Affordability and Stability Act of 2009, this move is meant to stop the rise of foreclosures that expert predict, could soon reach in Illnois the 100,000 mark.

Foreclosures hurt home sales in every area of Cook County. Almost every neighborhood has one. On the other hand, foreclosures in Arlington Heights is the hottest group of properties home buyers are after these days.