Homeowner Aid Program Deadline: October 31 Closing
CHICAGO — The Illinois Housing Development Authority (IHDA) has issued an important update regarding the Illinois Homeowner Assistance Fund (ILHAF). The ILHAF application window will officially close at 11:59 p.m. on Tuesday, October 31.
Support for Homeowners in Need – ILHAF has been a lifeline for qualified homeowners, offering grants of up to $60,000 to address various financial challenges, including past-due mortgage payments, property taxes, property insurance, and homeowner or condo association fees. It’s important to note that submitting an application does not guarantee approval, as eligibility criteria apply. Eligible Illinois homeowners are encouraged to apply online at www.illinoishousinghelp.org.
A Remarkable Impact Since Its Launch – Since its inception in April 2022, ILHAF has made a significant impact on the lives of Illinois residents. Over $246 million has been disbursed to assist 13,730 homeowners who were adversely affected by the COVID-19 pandemic, enabling them to avoid foreclosure and remain in their homes as they regained their financial stability. On average, each household received $17,988 in grants. What’s particularly noteworthy is that more than 69% of ILHAF funds have been directed toward socially disadvantaged areas across Illinois, underlining the program’s commitment to equitable support.
A Lifeline for Homeowners – ILHAF was specifically designed to help homeowners facing the risk of mortgage default and foreclosure due to financial hardships stemming from the COVID-19 pandemic. Payments are made directly to mortgage servicers, taxing bodies, or other eligible entities once a homeowner’s application has been approved. Importantly, ILHAF does not require proof of citizenship for application, and it is not considered a public charge benefit.
Local Assistance Available – For residents in Clark, Coles, Crawford, Cumberland, Douglas, Edgar, Jasper, Lawrence, and Richland counties, the Embarras River Basin Agency stands ready to provide assistance. You can reach them at 217-331-7031.
Funded Through the American Rescue Plan – ILHAF is made possible through an allocation in the federal American Rescue Plan Act of 2021, a $1.9 trillion economic stimulus relief package aimed at expediting recovery from the COVID-19 pandemic. Illinois received an allocation of $386.9 million, which was subsequently appropriated to IHDA by the Illinois General Assembly.
As the application deadline approaches, IHDA and ILHAF continue to stand by Illinois homeowners, offering vital support during these challenging times. Don’t miss this opportunity to secure assistance and safeguard your homeownership. Apply today to ensure your financial well-being.
