$309 million Homeowners Assistance Program

As a result of the COVID-19 pandemic, the Illinois Housing Development Authority (IHDA) has established the Illinois Homeowner Assistance Fund (ILHAF) to assist homeowners who have fallen behind on monthly mortgage payments and/or related housing bills. Homeowners can apply for a grant of up to $30,000 in mortgage assistance, which will eliminate or reduce homeownership payments.

For more information on getting a grant and also learning about refinance programs, take a look at this.

“Housing stability is a crucial part of our economic recovery, and I’m pleased to announce that Illinois residents can now apply for $30,000 in mortgage support,” said Governor J.B. Pritzker. “Illinois was the fastest state in the nation to respond to the housing crisis of 2020, and with the need still high, we’re delivering another $309 million to struggling mortgage owners this spring. A good life, a good job, the ability to focus in a classroom — it all starts with a roof over your head. And that’s what every Illinoisan deserves.” 

The Illinois Homeowner Assistance Fund (ILHAF) is a program meant to help homeowners facing mortgage default or foreclosure. To be eligible, Illinois homeowners must have suffered financial hardship due to the COVID-19 pandemic on or after Jan. 21, 2020, such as lost income or increased expenses. They must also own and occupy their primary residence in Illinois, be at least 30 days behind on their mortgage or other homeowner expenses, and have a family income of less than 150 percent of the Area Median Income.

To be authorized, homeowners must first seek assistance from a licensed Housing and Urban Development counselor or their mortgage service provider and then apply for assistance through the IHDA online portal based on the outcome. A certificate from a HUD-certified housing counselor or a letter from the mortgage servicer showing efforts to settle the default is necessary for applicants.

More information on the application process, including videos on how to apply, a complete list of required documents, and a list of participating housing counselors, can be found at Illinois Homeowner Assistance Fund’s official site. Applications will be accepted until 11:59 p.m. on Tuesday, May 31.

For more information on getting a grant and also learning about refinance programs, take a look at this.

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