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|User Info||Chicago's Home Equity Assurance Program still paying ou; entered at 2011-11-11 10:09:59|
The Delias paid $293,000 in 2003 for their new, three-level townhouse. A year later, they enrolled in the Southwest Home Equity Assurance Program — one of three small government agencies established by referendum in Chicago as a result of the state law — which appraised their home at $360,000 and guaranteed that if they didn’t sell for at least five years, they would get at least that much money when they did. The only cost to enroll: $125 for the appraisal.