UIPI Bulletin Board

Urban Insurance Partners Institute Web Site
Community Resources

Name of Organization
Southwest Home Equity Assurance Program

Purpose 
Housing
State government affiliated

Tax status
Exempt

Year founded
1990

Annual budget
$836,106

Total number of full and part-time staff
Two full time

Mission
To protect property values.

Do you currently partner with insurers or representatives of the insurance industry?
Several Illinois insurance companies worked with local community organizations to develop the home equity assurance concept. Other past partnerships included an actuarial study and production of educational materials.

Do you educate homeowners about insurance? If so, how?
The Home Equity Guarantee safeguards property values by offering a guarantee with the provision that statutory guidelines are complied with. The concept is similar to an insurance policy. Homeowners are educated on the process, along with differences when compared to homeowners insurance plans.

Are any insurance industry companies or agencies represented on your board? 
No

Recent accomplishments and major awards
Implemented Home Improvement Loan Program for members. This is an innovative program because SW Home Equity subsidizes low interest rates for home improvement projects. Currently, the rate for loans up to $5,000 is 0 percent; from $5001-$25,000 is 7 percent. SW Home Equity recently received the 2000 Neighborhood Leadership Award from Neighborhood Housing Services of Chicago. 

Officers and titles
Anita Cummings, Chairman
Linda A. Dougherty, Vice Chairman
James Capraro, Treasurer
Danial Malone, Secretary

Contact person and contact information
Helen Juozapavicius, Executive Director
3424 W. 63rd Street
Chicago, IL 60629
(773) 434-8220

Organization Web site address
www.swhomeequity.org

Information provided by 
Date 6/20/01
Helen Juozapavicius

Urban Insurance Partners Institute Section

UIPI Contact
Tammy Rader
Organization contact
Helen Juozapavicius
Date Completed
6/22/01