Villanueva highlights mortgage assistance to homeowners

CHICAGO State Senator Celina Villanueva is encouraging homeowners who have struggled to pay their mortgage due to the COVID-19 pandemic to take advantage of an upcoming mortgage relief program that will open applications on Tuesday, November 1.

“This program will allow Illinois homeowners to recover financially from the impact the pandemic has left on them,” Villanueva (D-Chicago) said. “Homeowners shouldn’t have to struggle to make mortgage payments due to a global pandemic that has shut down the world and had a huge impact on the economy. Providing a solution to these financial difficulties is one way to put the families in a financially stable and secure position.”

The Illinois Homeowners Assistance Fund, administered by the Illinois Housing Development Authority, will provide up to $30,000 in mortgage assistance to eligible homeowners – paid directly to the repairer, tax agency or other licensed entity – while owners work to regain their financial footing. Whether homeowners have a mortgage, reverse mortgage, or no mortgage, the program can fund overdue housing payments and up to three months of potential mortgage payments.

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

“Illinois homeowners who have suffered financial hardship during the pandemic deserve relief,” Villanueva said. “I advise all owners to see if they qualify for this free program and take advantage of it while support is available.”

The program is free and funds do not need to be repaid. Applications, program information, and updates are available at illinoishousinghelp.org. Applications will be accepted until 11:59 p.m. on Tuesday, January 31, 2023. Interested landlords are strongly encouraged to attend an information session hosted by IHDA or one of our housing partners. The session schedule is posted online at illinoishousinghelp.org. For those without computer or internet access, please contact the ILHAF hotline at 1-866-IL-HELP (866-454-3571)

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