A new law is designed to help struggling homeowners avoid foreclosure. Governor Quinn signed a bill into law giving homeowners a 90-day grace period before foreclosure. The law requires mortgage holders to notify homeowners who are at least 30 days later on their payments that they have one month to seek counseling and get their loan back on track. If the homeowner enters counseling, they get an additional 30 days to work out a payment plan or refinance their loan.