Pritzker Administration Launches $309 Million Assistance Program for Illinois Homeowners

Financial Assistance program

The Illinois Homeowner Assistance Fund (ILHAF) was recently announced by Governor JB Pritzker and the Illinois Housing Development Authority (IHDA) to assist homeowners who have fallen behind on monthly mortgage payments and/or related housing bills as a result of the COVID-19 outbreak. IHDA has partnered with more than 35 non-profit housing counseling agencies, community-based organizations, and legal aid groups across Illinois.

“With the support of Governor Pritzker, IHDA has delivered emergency housing payments on behalf of 120,000 Illinois renters and homeowners since the pandemic began, and the ILHAF program will build on these efforts to provide much-needed relief to households who need it most,” IHDA Executive Director Kristin Faust said.

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

This program provides direct financial assistance to prevent mortgage delinquencies, defaults, displacements, delinquent homeowners/condominium/co-op association fees, delinquent homeowner’s insurance and/or flood insurance, delinquent mobile home lot rent, and foreclosures for income-eligible homeowners experiencing pandemic-related hardships. Assistance will be paid directly to the mortgagor’s loan servicer, taxing body, or other approved entity on behalf of the homeowner.

“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 JB 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.”

To qualify for ILHAF assistance, Illinois homeowners must have experienced a financial hardship due to the COVID-19 pandemic after Jan. 21, 2020 (including a hardship that began before Jan. 21, 2020, but continued after that date). They also must currently own and occupy their home in Illinois as their primary residence, be at least 30 days late on their monthly housing payments, and have a household income at or below 150% of the area median income. 

“With the American Rescue Plan—thanks to Democrats and President Biden—we were able to provide necessary resources for our hardest-hit small businesses, help our schools safely re-open and boost support for local municipalities in every corner of our state,” stated U.S. Senator Tammy Duckworth (D-IL). “Today’s announcement from the Pritzker Administration is just another example of how Illinoisans are benefitting because no homeowner impacted by the COVID-19 pandemic should have to worry about being forced from their homes and communities. I’ll keep working with Governor Pritzker to help ensure Illinois renters and homeowners have the support they need.”

For more information on this assistance program, visit the official site. For applying, click here.

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

Chris has been in the marketing industry for well over a decade. Chris loves writing about anything related to saving money. A passion for teaching people through writing has given him a unique opportunity to use his skills in the marketing industry. In his spare time he likes spending time with his family. training his new puppy, and taking long road trips to places like Banff & Lake Louise, Alberta.
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