The Illinois Housing Development Authority (IHDA) has announced that it will reopen the Illinois Homeowner Assistance Fund (ILHAF) on Nov. 1.
ILHAF is a federally funded program dedicated to assisting homeowners who are at risk of default, foreclosure or displacement because of financial hardship caused by the COVID-19 pandemic. Recipients may qualify for up to $30,000 under the following circumstances:
- Have household incomes less than 150 percent of the area median income,
- Own and occupy their property as their primary residence,
- Are at least 30 days behind on property tax or mortgage payments,
- Have financial hardship directly from COVID-19 that began, continued or worsened after Jan. 21, 2020.
Recipients can use ILHAF funds to:
- make delinquent payments for mortgages, property taxes, homeowner’s insurance, flood insurance, homeowner/condominium/co-op fees and mobile home lot rent as well as
- pay other housing-related costs related to a period of forbearance caused by the pandemic.
IHDA reported on Sept. 22, that 1,840 applications and $20,504,222 had been approved during its first round of assistance to homeowners. A total of 1,047 mortgage applications were approved for $16,080,470, while 342 property tax-only applications were approved for $1,849,647.
IHDA offers status updates for applicants and more information online. For details, go to illinoishousinghelp.org.
