It is critical that homebuyers and homeowners are aware of the legitimate assistance available to them, as well protecting themselves from financing and refinancing scams.

Homeowners looking for help should visit a new website called MakingHomeAffordable.gov, which has information on the administration's $75 billion effort to help homeowners out of mortgage trouble. It includes a listing of HUD-approved mortgage counselors. People can also call 1-888-995-HOPE. Homeowners are encouraged to call if they suspect a company is perpetrating a scam.

Expanded Tax Break Available for 2009 First-Time Homebuyers

http://www.irs.gov/newsroom/article/0,,id=204672,00.html

First-Time Home Buyer's Assistance Program in Mount Prospect

http://www.mountprospect.org/services/community_development/planning/cdbg/first_time_homebuyer.html

HUD in Illinois (includes steps to avoid foreclosure, search for affordable rentals, and homebuying programs)

http://www.hud.gov/local/index.cfm?state=il