Illinois to reopen mortgage assistance program: What to know
Eligible homeowners will soon be able to receive up to $30,000 in mortgage relief through an assistance program administered by the Illinois Housing Development Authority.
IDHA, in a press release, announced that its Illinois Homeowner Assistance Fund would resume Nov. 1. IDHA has approved more than $20.5 million in relief for 1,840 approved applicants through the fund since it began earlier this year, according to its website.
The program is funded through the American Rescue Plan Act of 2021. The state was allocated $386.9 million which was appropriated to IHDA by the Illinois General Assembly.
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Who is eligible for the mortgage assistance?
After first communicating with their mortgage provider or certified Housing and Urban Development counselor regarding their inability to cover mortgage payments, an applicant will need a letter from the mortgage provider or certificate from a HUD counselor to move forward.
From there, eligibility is based on a list of factors.
![House at 1800 Willow Bend in Chatham on April 12. The home was the most expensive sold in Sangamon County in March. [Thomas J. Turney/The State Journal-Register]](https://s.yimg.com/ny/api/res/1.2/.EpL4zWrljt3F8rWEkKhwg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTUwOQ--/https://media.zenfs.com/en/the-state-journal-register/17e929a101ece2a9a8dfc26db41a8149)
Applicants must be able to prove a financial hardship as a result of COVID-19 after Jan. 21, 2020. They also must own a home in the state as their primary residence, be at least 30 days late on their monthly payments and have a household income at or less than 150% of the area median income.
Homeowners can either have a mortgage, reverse mortgage, or be mortgage-free. The relief can cover delinquent housing payments and a maximum of three months of prospective mortgage payments.
How can the money be spent?
Delinquent housing payments are only a portion of the permitted expenditures associated with the assistance program. Homeowners can also use their allocation to pay delinquent property taxes, homeowner and flood insurance, mobile home lot rent and any fees attached to a homeowner or condominium association.
How much money awarded is dependent on the income limit in each respective county and is adjusted for the number of people living within the household.
When is the deadline to apply?
There are no application fees associated with the ILHAF, which is open until 11:59 p.m. Tuesday, Jan. 31, 2023.
People can apply for the funds through the IHDA website at www.ihda.org, or they can contact the Housing Assistance Fund call center for assistance at 866-454-3571. To check the status of an application, those interested can visit www.illinoishousinghelp.org or by calling the hotline.
I applied during the previous round. Can I apply again?
Those who have received previous ILHAF aid can apply again this round, yet the maximum assistance in total will not exceed $30,000.
The payments will go from IDHA to a mortgage servicer, taxing body and/or other approved vendors. These groups have their own respective timelines to apply funds to the applicant, and applicants are told to contact them with any further questions.
Contact Patrick Keck: 312-549-9340, pkeck@gannett.com, twitter.com/@pkeckreporter
This article originally appeared on State Journal-Register: Illinois to reopen mortgage assistance program: What to know
