Illinois Homeowner Assistance Fund to launch in April 2022

Rock Island Economic Growth Corporation
Rock Island Economic Growth Corporation(KWQC)
Published: Mar. 28, 2022 at 5:42 PM CDT
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ROCK ISLAND, Illinois (KWQC) - Illinois homeowners experiencing financial hardship associated due to the COVID-19 pandemic can apply for a housing assistance grant of up to $30,000 starting in April 2022. The program is administered by the Illinois Housing Development Authority (IHDA), which will begin accepting applications from homeowners to eliminate or reduce past-due mortgage and property tax payments through the Illinois Homeowner Assistance Fund (ILHAF) program.

Rock Island Economic Growth Corporation (GROWTH) is serving as a Housing Stability Service provider for the ILHAF and is a HUD-approved housing counseling agency. Illinois homeowners wishing to apply for ILHAF should schedule a meeting with GROWTH as a HUD-approved housing counseling agency as soon as possible.

The ILHAF program was established by the American Rescue Plan Act to help homeowners who have been financially impacted by COVID-19 with certain housing-related costs. The program’s goal is to prevent:

· Mortgage issues like delinquencies, defaults, or foreclosures

· Loss of power services or other home utilities · Homeowners being displaced or losing the ability to live in their home

Eligible homeowners may receive grants of up to $30,000 per household to pay:

· Delinquent mortgage payments

· Mortgage reinstatement or other housing-related costs related to a period of forbearance necessitated by the pandemic

· Delinquent property taxes

· Delinquent homeowner’s insurance and/or flood insurance

· Delinquent Homeowners’/Condominium/Co-Op Association fees

· Delinquent mobile home lot rent

· Up to 3 months of prospective payments, if necessary

“We receive phone calls constantly about people who are in need of housing assistance whether it be on the rental side of the homeownership side. This is something that we assisted with in 2020 with an emergency mortgage assistance so we anticipate a lot of people in need. With the foreclosure moratorium, those numbers came down but now we are starting to see an increase in phone calls from people who are needing that assistance,” said Beth Payne, Vice President at Rock Island Economic Growth Corporation.

“We are getting to the end of the pandemic, but there are still a lot of families that are still experiencing the after-effects and want to get caught up on their bills and this program is good timing because people are now able to move forward and get caught up on their mortgage and get on with life,” said James Jones, Housing Manager at Rock Island Economic Growth Corporation, “Sometimes you can get behind on your budget in life and that happens to a lot of families here in the Quad Cities and the surrounding area and so the need is basically understanding where you are and where you want to be when it comes to your finances.”

Assistance will be paid directly to the mortgagor’s loan servicer, taxing body, or other approved entity on behalf of the homeowner. Homeowners that have been disproportionately impacted by the pandemic will be prioritized in the distribution of funds.

As a requirement of the application for ILHAF, homeowners will be required to contact their mortgage servicer or a HUD-certified housing counseling agency to discuss loss mitigation options before they are eligible to receive assistance. Homeowners are strongly encouraged to attend a webinar hosted in advance of the application portal opening.

You can contact Rock Island Economic Growth Corporation by calling (309)-788-6311 or by visiting their website.

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