Gadgets

Homeowners in Illinois could get up to a $30,000 mortgage

Homeowners in Illinois could get up to a ,000 mortgage

Homeowners in Illinois could get up to a $30,000 mortgage

The State Housing Development Authority is reopening a mortgage assistance program for homeowners affected by the pandemic.

The Illinois Homeowner Assistance Fund (ILHAF) will begin operations on Tuesday, November 1 and will provide up to $30,000 in mortgage assistance to eligible homeowners – paid directly to a servicer, taxing authority or other approved entity – while homeowners work to get back on their financial footing.

Whether homeowners have a mortgage, a reverse mortgage or are mortgage-free, the program can finance late home payments and up to three months of future mortgage payments.

The program is free and does not have to be repaid. Application, program information and updates can be found at illinoishousinghelp.org. Applications are accepted until Tuesday, January 31, 2023 at 11:59 p.m.

“No Illinoisan should have to choose between paying their mortgage and putting food on the table,” said Governor JB Pritzker. “That’s why we’ve established the Illinois Homeowner Relief Fund to provide much-needed assistance to our residents who have struggled during the pandemic.”

To qualify for assistance, Illinois homeowners must have experienced financial hardship due to the COVID-19 pandemic after January 21, 2020 (including hardship that began before January 21, 2020 but continued after that date).

SUBSCRIBE TO THE FOX 32 YOUTUBE CHANNEL

They must also currently own and use their home in Illinois as their primary residence, be at least 30 days behind on their monthly housing payments, and have a household income at or below 150% of the area median income.

“The state of Illinois is committed to ensuring that homeowners struggling due to this terrible pandemic can remain in their homes,” said IHDA Executive Director Kristin Faust. “We designed the ILHAF program to ensure the most vulnerable households are prioritized to prevent foreclosure to ensure they are given the opportunity to keep up with their monthly housing costs.”

Prospective applicants must demonstrate that they have either communicated with their mortgage lender about their inability to pay, or have sought counseling from a HUD-approved counseling organization.

Interested homeowners are strongly encouraged to attend an information session hosted by IHDA or one of our housing partners. The schedule of sessions has been published online. For those without computer or Internet access, contact the ILHAF Hotline at 1-866-IL-HELP (866-454-3571).

Homeowners who received assistance in the previous round of ILHAF can apply for additional assistance in this round. However, the maximum total aid that can be provided to applicants in both rounds is $30,000.

ILHAF is funded through an appropriation in the federal American Rescue Plan Act of 2021, which was signed into law in March 2021. The $1.9 trillion in economic stimulus relief is designed to accelerate the recovery from the COVID-19 pandemic.

The State of Illinois has been allocated $386.9 million by the Illinois General Assembly to IHDA.



#Homeowners #Illinois #mortgage

مقالات ذات صلة

اترك تعليقاً

لن يتم نشر عنوان بريدك الإلكتروني. الحقول الإلزامية مشار إليها بـ *

زر الذهاب إلى الأعلى
سيتات آورج 2022 سيتات آورج 2022