Ramirez Announces Launch of Illinois Homeowner Assistance Fund
Press Release from State Representative Delia Ramirez
Feb. 23, 2022 FOR MORE INFORMATION:
CHICAGO, Ill – As part of her continued efforts to keep people in their homes during the pandemic, state Rep. Delia Ramirez, D-Chicago, is proud to partner with the IHDA to announce the launch of the Illinois Homeowner Assistance Fund.
“Chicago is seeing an influx of foreclosure filings as many household impacted by the pandemic are still struggling to make their mortgage payments,” said Ramirez.
“As we did with rental assistance, the Illinois General Assembly is partnering with the Illinois Housing Development Authority to ensure those most at risk of foreclosure receive mortgage assistance. The Illinois Homeowner Assistance Fund will keep families from losing their homes by prioritizing aid to the hardest-hit communities and those with the lowest incomes.”
The Illinois Homeowner Assistance Fund is a new program created with funding from the federal American Rescue Plan Act. The program is intended to prevent mortgage delinquencies and defaults, foreclosures, and displacement of homeowners experiencing financial hardship because of the COVID-19 pandemic. The program will be administered by the Illinois Housing Development Authority (IHDA) and will offer up to $30,000 of assistance to approved applicants. The official application window will open in April but those in need of assistance can register to receive updates starting today. IHDA will host information sessions on program eligibility and how to apply over the next month.
“The pandemic continues to pose financial challenges and we will continue to meet those challenges to keep Illinoisans safe in their homes,” said Ramirez. “I urge the members of our community to apply for mortgage assistance from the Illinois Homeowner Assistance Fund if they need it.”
For more information on the Illinois Homeowner Assistance Fund, please visit illinoishousinghelp.org/ilhaf.