Illinois restarts COVID-related mortgage assistance - Crain's Chicago Business

SPRINGFIELD—The authorities volition reopen a owe assistance programme for pandemic-impacted homeowners connected Nov. 1. 

The Illinois Homeowner Assistance Fund, tally done the Illinois Housing Development Authority, provides up to $30,000 successful assistance to homeowners done payments made straight to owe servicers, taxing bodies oregon different approved entities. 

The programme is funded done an appropriation from the national American Rescue Plan Act and tin beryllium utilized for past-due owe payments and up to 3 months of aboriginal payments. The backing tin besides beryllium utilized for delinquent spot taxes, homeowner's insurance, condominium oregon homeowner relation fees, and mobile location batch rent.

Funds received bash not request to beryllium repaid. 

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More accusation is disposable at illinoishousinghelp.org/ilhaf, and the exertion portal volition beryllium unfastened from Nov. 1 done the extremity of January 2023. 

"The authorities of Illinois is committed to ensuring that homeowners who are struggling owed to this unspeakable pandemic tin enactment successful their home," IHDA Executive Director Kristin Faust said successful a quality release. "We designed the ILHAF programme to guarantee the astir susceptible households are prioritized successful bid to stave disconnected foreclosure to guarantee they are fixed the accidental to go existent connected their monthly lodging expenses."

To qualify, Illinois homeowners must: 

• Have experienced a fiscal hardship owed to the COVID-19 pandemic aft Jan. 21, 2020, oregon a hardship that began earlier that day and continued afterward.
• Currently ain and inhabit the location successful the authorities arsenic their superior residence.
• Be astatine slightest 30 days precocious connected their monthly lodging payment.
• Have a household income astatine oregon beneath 150 percent of the country median income.
• Be capable to show they person either communicated with their owe supplier astir their inability to wage oregon sought counseling with a federally approved counseling organization. 

Individuals who participated successful a erstwhile circular of owe assistance whitethorn use again successful the upcoming round, but the maximum magnitude a idiosyncratic tin person is $30,000 cumulatively. 

As of Sept. 22, the authorities had approved $20.5 cardinal successful assistance done the programme with 1,840 approved applications, according to IHDA. The mean assistance amounted to $12,732 per household. Another 3,721 applications had been submitted to the servicer, 1,485 were nether review, and 6,948 had been denied.

IHDA and its lodging partners volition clasp accusation sessions connected the program, and a docket is posted online at illinoishousinghelp.org. Information tin besides beryllium obtained by contacting the ILHAF hotline astatine 1-866-454-3571.

Capitol News Illinois is simply a nonprofit, nonpartisan quality work covering authorities authorities that is distributed to much than 400 newspapers statewide. It is funded chiefly by the Illinois Press Foundation and the Robert R. McCormick Foundation.

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