Illinois homeowners who have fallen behind on their housing expenses during the pandemic can now submit requests for assistance of up to $30,000.
Governor JB Pritzker and leaders of the Illinois Housing Development Authority on Friday marked the opening of the state’s Homeowner Assistance Fund, a $309 million project designed to help homeowners facing mortgage default, a default or mortgage foreclosure.
To be eligible, owners must have experienced financial hardship caused by COVID, such as loss of income or increased expenses, after January 2020.
Those residing in communities that have been disproportionately affected by the health and economic effects of the pandemic will be prioritized in aid distribution, according to a press release from Pritzker’s office.
To qualify, homeowners must own and occupy their home as their primary residence, be at least 30 days behind on their mortgage payments, and have a household income at or below 150% of the area median income.
To be approved, applicants must have consulted with a HUD-certified housing counselor or spoken to their mortgage agent about their mitigation options by January 1, 2022.
When applying, owners must have the following documents:
- Proof of identity, including but not limited to driver’s license, ID card, permanent resident card or other form of identification.
- Proof of household income, including but not limited to tax returns, payslips, or other documents.
- Proof of occupancy including but not limited to bank statement, mobile phone bill, credit/debit card statement or other documents.
- Proof of ownership, including but not limited to a property tax bill, deed, or other documents.
- Default statement, including but not limited to mortgage statement, property tax statement, insurance statement, or HOA/Condo statement.
For those wishing to apply, applications can be found on the Illinois Housing Development Authority website.