Illinois residents struggling to make mortgage payments can soon apply for financial relief from the state.
Beginning next month, the Illinois Housing Authority will reopen its $30,000 mortgage relief fund. The fund was originally open from April until May 31 for the first round of payments.
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The fund is geared toward homeowners who have fallen behind on monthly mortgage payments due to the COVID-19 pandemic. Those who have experienced financial hardship, such as loss of income or an increase in expenses on or after Jan. 21, 2020, qualify.
Eligible recipients must also own or occupy their Illinois home as their primary residence, have a household income at or below 150% of the Area Median Income, and be at least 30 days behind on their mortgage.
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While recipients of the original round can be eligible for next month’s reopened fund, the maximum assistance that can be provided is $30,000 across both rounds.
Illinois, along with many other states, has taken steps to provide financial relief for residents due to either the pandemic or high inflation rates. Residents had until Oct. 17 to file their 2021 taxes to claim up to $700 in tax rebates.
