The Illinois Housing Development Authority (IHDA) received $250 million of federal funds to help homeowners who are still behind on their mortgage because of the COVID-19 pandemic.
An estimated 12,000 homes will be eligible to receive $30,000 in mortgage assistance. IHDA will open applications in April.
Homeowners that are interested in applying must:
- Have an income less than 150% of the Area Median Income
- Be primary residents of their properties
- Be at least 30 days behind on mortgage or property tax payments
- Have experienced a financial hardship directly related to COVID-19 that began, continued or worsened after January 21, 2020