The Illinois Housing Development Authority (IHDA) has announced the reopening of the Illinois Homeowner Assistance Fund (ILHAF) on Tuesday, November 1, 2022. This crucial program is designed to support Illinois homeowners who have faced financial hardships due to the COVID-19 pandemic, offering mortgage assistance under a program aligned with the principles of the CARES Act. The ILHAF program provides up to $30,000 in financial aid to eligible homeowners, directly addressing mortgage servicers, taxing bodies, or other relevant entities. This initiative aims to provide a vital lifeline as homeowners strive to regain stable financial footing.
Whether homeowners are managing a conventional mortgage, a reverse mortgage, or own their homes outright without a mortgage, ILHAF is structured to offer support for overdue housing payments and can also cover up to three months of prospective mortgage payments. Importantly, this program is offered free of charge, and the funds provided do not require repayment, representing a significant benefit for families in need.
Illinois Governor JB Pritzker emphasized the critical nature of housing security, stating, “No Illinoisan should have to choose between paying their mortgage and putting food on the table. That’s why we established the Illinois Homeowner Assistance Fund to provide some much-needed relief to our residents who struggled throughout the pandemic. Today, I am proud to announce that we are reopening that very program so that no Illinois family goes without a roof over their heads.” He urged eligible households to apply for ILHAF funding starting November 1st, acknowledging the IHDA team for their commitment to this cause.
Lt. Governor Juliana Stratton further highlighted the importance of housing as a fundamental aspect of well-being: “Having a roof over your head is one of the pillars of feeling safe and having a positive quality of life. The lingering economic impact of the pandemic is still being felt, especially when it comes to housing. That is why Illinois is so committed to helping residents stay in their homes.” She underscored the state’s dedication to supporting residents through housing assistance programs like ILHAF.
To be eligible for the Illinois Homeowner Assistance Fund, homeowners must demonstrate a financial hardship directly linked to the COVID-19 pandemic after January 21, 2020. This includes hardships that may have begun before this date but continued afterwards. Applicants must own and reside in their Illinois home as their primary residence, be at least 30 days behind on their housing payments, and have a household income at or below 150% of the area median income.
Kristin Faust, IHDA Executive Director, reinforced the state’s commitment to preventing foreclosures: “The state of Illinois is committed to ensuring that homeowners who are struggling due to this terrible pandemic can stay in their home. We designed the ILHAF program to ensure the most vulnerable households are prioritized in order to stave off foreclosure to ensure they are given the opportunity to become current on their monthly housing expenses.”
Prospective applicants are required to show they have communicated with their mortgage provider regarding their payment difficulties or have sought guidance from a HUD-approved counseling organization. IHDA strongly encourages interested homeowners to participate in informational sessions hosted by IHDA and its housing partners. Details on session schedules can be found at illinoishousinghelp.org. For individuals without internet access, the ILHAF hotline is available at 1-866-IL-HELP (866-454-3571).
Homeowners who previously received assistance from ILHAF are eligible to apply for further support in this round. However, it is important to note that the total assistance provided across both rounds is capped at $30,000 per applicant.
The Illinois Homeowner Assistance Fund is made possible through funding from the federal American Rescue Plan Act of 2021, enacted in March 2021. This $1.9 trillion stimulus package, aimed at accelerating recovery from the COVID-19 pandemic, included $9.96 billion for states, territories, tribes, and the Department of Hawaiian Homelands. Illinois received $386.9 million, allocated to IHDA by the Illinois General Assembly (P.A. 102-0017).
For comprehensive information and program updates, please visit illinoishousinghelp.org. Applications will be accepted until 11:59 p.m. on Tuesday, January 31, 2023. This initiative represents a critical resource for Illinois homeowners navigating financial challenges stemming from the pandemic, providing much-needed mortgage relief through a program grounded in the spirit of the CARES Act and the subsequent American Rescue Plan.
