The Illinois Housing Development Authority has launched two new programs to provide resources for renters and homeowners:
1) Emergency Rental Assistance -- This provides renters impacted by COVID-19 with $5,000 for back rent or prepaying rent in 2020.
Applications are open from August 10 to August 21
Applicants must be below 80% Area Median Income
Applicants must have unpaid rent incurred after March 1st related to COVID-19 income loss
Applications will be drawn randomly, not on a first-come, first-served basis
Payments will be made directly to landlords
2) Emergency Mortgage Assistance -- This provides homeowners impacted by COVID-19 with $15,000 to reinstate their mortgage or prepaying in 2020.
Applications are open from August 24 to September 4
Applicants must be below 120% Area Median Income
Applicants must have a past due balance or forbearance incurred after March 1st related to COVID-19 income loss
Applicants must have less than $425,000 in mortgage balance & be in 1st lien/mortgage position
Applications will be drawn randomly, not on a first-come, first-served basis
Payments will be made directly to mortgage servicers
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