Funding addresses the foreclosure crisis and creates affordable housing in the Chicago area
CHICAGO, IL – February 6, 2013 – (RealEstateRama) — Pierce & Associates recently provided a $100,000 charitable donation to further the goals of Mercy Housing Lakefront’s ten-year Moving Forward Together campaign. With this new gift, Denis Pierce, Pierce & Associates, and the Pierce Family Foundation have contributed almost $1.4 million over three years to address the regional housing and foreclosure crisis.
The economy is slowly improving, but thousands of people and communities continue to struggle. Thanks to Denis Pierce, Pierce & Associates, and like-minded supporters, there is hope!
“Denis Pierce and Pierce & Associates continue to play a leading role in addressing the foreclosure crisis and creating hope for thousands of families,” said Cindy Holler, Mercy Housing Lakefront President. “We are grateful.”
Through the first three years of the Moving Forward Together campaign, Denis Pierce, Pierce & Associates, and hundreds of partners have helped build 1,774 affordable homes, sustain 3,686 jobs, and prevent displacement or homelessness for 4,298 people in the Chicago and Milwaukee regions.
“We are proud to be a leading sponsor of this campaign,” said Denis Pierce, President of Pierce & Associates. “The campaign is sorely needed to deal with current housing problems and Mercy Housing has the capacity and talent to make a real difference.”
In 2012, support from Denis Pierce, Pierce & Associates, and others contributed to the achievement of the following milestones:
• Building 70 affordable homes for seniors in Grayslake;
• Renovating 92 percent of the 210 affordable family homes at the historic Pullman Wheelworks;
• Rehabbing 360 foreclosed homes through Chicago’s Neighborhood Stabilization Program;
• Expanding 180° Properties to protect and maintain 5,632 foreclosed homes; and
• Helping 204 families save their homes from foreclosure by purchasing their mortgages through the Mortgage Resolution Fund.
With continued support from hundreds of partners, Mercy Housing Lakefront will ultimately fulfill the ten-year goals of the Moving Forward Together campaign to build or preserve 7,500 affordable homes, create 8,000 jobs, and prevent displacement or homelessness for 20,000 people throughout the Chicago and Milwaukee regions.
About Mercy Housing Lakefront
In response to the economic crash and housing crisis, Mercy Housing is working with hundreds of partners to fulfill our ten year Moving Forward Together campaign to build or preserve 7,500 affordable homes, create 8,000 jobs, and ultimately prevent homelessness for 20,000 people in the Chicago and Milwaukee region. This work includes the efforts of two sister organizations. The first is Mercy Housing Lakefront (MHL) which has developed and currently manages 24 affordable rental properties enabling 3,400 people to live in hope. The second is Mercy Portfolio Services (MPS) which was created to address the foreclosure crisis. MPS manages Chicago’s Neighborhood Stabilization Program with a goal to rehab and reoccupy thousands of foreclosures. In addition, MPS recently established a $100 million Mortgage Resolution Fund to help thousands of Illinois families save their homes from foreclosure. MHL and MPS are part of Mercy Housing, a national organization that has developed, preserved, or financed more than 42,000 affordable homes. Please find more information at mercyhousinglakefront.org.
About Pierce & Associates, P.C.
Pierce & Associates has remained one of the leading law firms representing the mortgage banking industry since 1975. The firm, headquartered in Chicago, has been recognized by The U.S. Department of Housing and Urban Development (HUD) as a leader in foreclosure handlings in the State of Illinois.