It is my honor to serve the Southwest Home Equity Assurance Program as the Executive Director for the 5th year. I am ecstatic to continue the mission of the Southwest Home Equity Assurance Program in serving the homeowners on the southwest side of Chicago. It is with great pleasure that I welcome you to our website and encourage you to browse through our content and learn more about our program and initiatives.
SWHEAP was created over 30 years ago to provide Chicago homeowners with a peace of mind that if the value of their property value falls below the fair market value, they will be covered. SWHEAP does this by establishing an “assured value”. This is established by having an appraisal completed (applicants may also submit a current appraisal of 6 months or less). After 5 years of membership, when a SWHEAP member sells their home and sells below the assured value, SWHEAP will compensate a portion of the money lost in the sale. This benefit alleviates the worry of life’s “what ifs” when it comes to homeownership.
One of my personal favorites is the assistance we offer to our members when it comes to home improvement. The Home Improvement Loan Program is a rewarding program that helps homeowners renovate and upgrade their home. But, more importantly the loan program provides members an opportunity to increase the value of their home! Members can apply for our loan program as soon as they are registered with us. The loan program is exclusive to them and as mentioned above, presents a great opportunity to increase the value of their home.
While we cannot predict the future, our program provides its members with a peace of mind and confidence for the future. This is the same confidence our legislators and founders had on our communities when this program was created. If we can help one another one-by-one, we can ultimately help continue to stabilize the beautiful neighborhoods that comprise the southwest side of Chicago. As our program heads into the new year be sure to look out for new initiatives, speaking engagements and new marketing! We are always thrilled to continue new efforts for the residents of the Southwest Home Equity Assurance district. On behalf of our staff, the Board of Commissioners and myself, we look forward to connecting with you.
Victoria Gaspar Brennan