Quinn signs mortgage fraud, affordable housing bill into law

By WEEK Producer

August 3, 2012 Updated Aug 3, 2012 at 6:50 PM CDT

SPRINGFIELD, Ill. -- Illinois Governor Pat Quinn signed bills Friday to protect homeowners from mortgage fraud and to help people with disabilities with affordable rental housing.

House Bill 5450 makes $10 million in rental housing subsidies available over 15 years to eligible landlords so more people with disabilities, including veterans, can have a place to live.

It also provides money for contractors to build more permanent supportive housing.

The Illinois Housing Development Authority will administer the funds immediately.

"This is going to allow us for the first time in Illinois to target rental assistance for people with disabilities, which really are the people who need it most," said Mary Kenney, Illinois Housing Development Authority. "It is going....to not just build new housing but to provide rental assistance to people who can't afford to live independently."

Also, Quinn signed a law allowing for the investigation and prosecution of mortgage fraud to protect homeowners from financial exploitation.

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