Assistance is based on the Final Loan Amount âOur home that was full of memories â childhood memories and others â and I know the devastation that can cause to working families when they lose their homes,â Anaya said. Person shot by Chicago police during exchange of gunfire in Rogers Park. The Illinois General Assembly dedicated $396 million of its $3.5 billion in federal Coronavirus Relief Fund (CRF) dollars in its fiscal year (FY) 2021 budget to COVID-19-related rent and mortgage assistance. Illinois residents responded in record numbers to the Emergency Rental Assistance and Emergency Mortgage Assistance programs and the application period for each program has closed. Any fees are capped at $1,000 and there will be no prepayment fees. 2020 Illinois first-time homebuyer assistance programs and grants Javier Simon 5/8/2020. Sign up for the They can provide homeowners with foreclosure and mortgage programs. The mortgage balance is $425,000 or less than 1st lien/mortgage position. For Emergency Rental Assistance or Emergency Mortgage Assistance, please call 312.883.2720 or 888.252.1119. Mortgage/Foreclosure Relief: A new law has allocated close to $20 million from state CARES Act funds to housing assistance, including mortgage assistance, for households affected by the pandemic. This money must be used to fund affordable housing grants, for the benefit of persons impacted by the COVID-19 public health emergency, for emergency rental assistance, emergency mortgage assistance and subordinate financing. The Civilian Office of Police Accountability confirmed the employeeâs arrest, but noted that the person was released from custody without being charged with a crime. The program is expected to assist between 2,500 and 3,000 homeowners with payments going directly to mortgage servicers up to a total of $10,000. ERA/EMA Update: Nearly 100,000 Illinois residents applied for housing assistance through either the Emergency Rental Assistance (ERA) or Emergency Mortgage Assistance (EMA) programs. 101-0637). A past due balance or a forbearance balance that began sometime on or after March 1, 2020. Eligibility Requirements: Income at or below $127,400 before and after the COVID-19 related financial hardship. City of Alton's Homeownership Program. âAs our recovery efforts evolve, we must take stock of the strides weâre making to provide essential services to our residents,â Preckwinkle said. The Emergency Mortgage Assistance program will provide up to ⦠Mortgage Assistance. All rights reserved. Homeownerâs mortgage was current as of February 29, 2020; The mortgage is past due or in forbearance. The Illinois General Assembly then allocated $396 million in CRF dollars to IHDA in the FY2021 Budget (P.A. âThe Emergency Mortgage Assistance program will provide critical support for our homeowners, giving them the time they need to regain their financial footing.â The Household Pulse Survey from the U.S. Census found that over 1 in 10 Illinois homeowners expected to have trouble making mortgage payments in September, according to a news release. Welcome to the Illinois Attorney General's Help for Homeowners page. The money for the state program comes from the federal CARES) Act approved in March. The Illinois Housing Development Authority (IHDA) created the Access Mortgage program to help state residents realize their dreams of homeownership. Contact the U.S. Department of the Treasury’s Office of Financial Stability Anti-Fraud Unit or the SIGTARP Hotline to report fraud or abuse related to the Hardest Hit … ⦠We know that recovery will not happen overnight. The 4% up to $6,000 available with Access Forgivable is a forgivable loan. The clothing store will leave the property 555 N. Michigan Ave. early next year, according to reports from the Chicago Tribune and Crainâs Chicago Business. Illinois Mortgage Help and Foreclosure Assistance Illinois has various programs that will help families with keeping their mortgage current. Thousands of struggling homeowners across Illinois have received mortgage assistance and avoided foreclosure through these Programs. What types of assistance is available? Emergency mortgage assistance available for Illinois residents. The Emergency Mortgage Assistance Program (EMA) is expected to assist approximately 10,000 eligible homeowners who are unable to pay their mortgages. The Illinois Hardest Hit Program offers two types of assistance: 1. The state and local counties offer resources, most of which are free, that can help those in need avoid foreclosure. Illinois (KWQC) - The Illinois Housing Department Authority will open applications on Monday, August 23 for their Emergency Mortgage Assistance Program. If approved, homeowners will receive a grant for up to $15,000 to cover missed mortgage payments beginning as early as March 2020 and prepay mortgage payments through 2020, or until … Davenport woman facing child endangerment charge after 2-year-old injured, Davenport police: Man displayed gun towards juveniles in ‘threatening manner’, Large police presence at Kimberly Mart in Davenport following report of gunfire, $14,000 reportedly stolen from Davenport church, QCA organizations partner for Winter Coat Drive, Rock Island Police: Multiple homes hit by gunfire, Iowa COVID-19 death toll exceeds 2,900 as officials change reporting methodology. Find mortgage help in Illinois. The Illinois Housing Development Authority (IHDA) says ⦠See our overview of IHDA options. JB Pritzker speaks in Chicago Monday, Aug. 10 to announce the launch of two housing assistance programs to help people who have had trouble making rent or mortgage payments during the COVID-19 pandemic. It follows a similar $20 million suburban renters assistance program set up in August. Find mortgage help in Illinois. IHDA expects to only be able to fund about 40% of the rental applications and about 50% of the mortgage applications. Reinstatement Assistance (RA) is a one-time payment of all mortgage arrearage, fees, and penalties. Application period opens for Illinoisâ COVID-19 mortgage assistance program. The Illinois Housing Development Authority (IHDA) continues to notify applicants via email regarding the status of their application, and appreciate your patience during these difficult times. Copyright 2020 KWQC. JB Pritzker speaks in Chicago Monday to announce the launching of two housing assistance programs to help people who have had trouble making rent or mortgage payments during the COVID-19 pandemic. We will feel the effects of COVID-19 for years to come and, unfortunately, the pandemic remains far from over.â. Illinois Housing Development Authority - IHDA helps people with homeownership through mortgage loans, repair grants, and foreclosure prevention assistance, as well as supporting multifamily rental housing and community building. IHDA expects to only be able to fund about 40% of the rental applications and about 50% of the mortgage applications. Illinois residents responded in record numbers to the Emergency Rental Assistance and Emergency Mortgage Assistance programs and the application period for each program has closed. Approximately 10,000 Illinois households whose members have struggled to pay their mortgage during the novel coronavirus pandemic can receive ⦠Right after the 2008 housing crash and economic downturn, Alma Anaya said her family lost their home. Museum President and CEO H. Beecher Hicks III said officials look forward to welcoming music lovers and celebrating the history of African American music. Pritzker pleads ânow more than ever, letâs stay masked and stay homeâ. Find an extensive listing of HUD counseling agencies in Illinois. The program is expected to launch in August 2020 and provide assistance through the end of the year.