Indiana Home Assistance Fund Application Portal Closing Soon
Indiana’s Homeowner Assistance Fund: Deadline Approaching for COVID-19 Relief
In a recent announcement, Lieutenant Governor Suzanne Crouch alongside the Indiana Housing and Community Development Authority (IHCDA) disclosed that the application window for the Indiana Homeowner Assistance Fund (IHAF) is set to close on October 20th. The IHAF program aims to extend support to Indiana homeowners with modest incomes who have been adversely affected by financial challenges stemming from the COVID-19 pandemic, as outlined in an official IHCDA press release.
Funding Origins and Impact
Established through a grant from the American Rescue Plan under the oversight of the U.S. Treasury Department, IHAF has made substantial strides in aiding Hoosier households. Over 9,100 families have already benefitted, receiving an average sum exceeding $13,000. This assistance encompasses various forms of aid, including mortgage reinstatement, ongoing mortgage payments, and clearance of overdue property taxes, homeowner’s insurance, and homeowner association fees, with a focus on the primary residence.
Approaching Fund Exhaustion
State officials caution that IHAF is nearing the exhaustion of its allocated funds, considering the significant disbursements already made, pending obligations, and ongoing application processing. This impending closure of the application portal underscores the urgency for eligible homeowners to act swiftly to secure assistance.
Transition and Future Applications
Come October 20th, IHAF will cease accepting new applications but will initiate a waiting list for prospective homeowners seeking assistance as additional funds become available. It’s emphasized that all current eligibility criteria will persist for future applicants and awards.
Award Structure and Accessibility
Awards under IHAF are restricted to one per household and are provided as five-year forgivable, interest-free loans, offering a lifeline to struggling homeowners navigating the aftermath of the pandemic-induced financial strain.
How to Access Assistance
For those seeking eligibility clarification or intending to register for future assistance opportunities, the official IHAF website, 877GetHope.org, serves as a comprehensive resource.
In conclusion, Indiana’s Homeowner Assistance Fund stands as a pivotal initiative in alleviating the economic burdens borne by homeowners amidst the COVID-19 crisis. As the deadline looms, affected individuals are urged to act promptly to secure the support they need during these challenging times.