Illinois Hardest Hit Program=20
The U.S. Department of Treasury designated the =
Illinois=20
Housing Development Authority as the administrator of the Hardest =
Hit Fund=20
Program for the State of Illinois. Approximately $445.6 million in =
program=20
funds have been allocated to develop and implement innovative =
housing=20
initiatives to help prevent foreclosures and stabilize housing=20
markets.
The Illinois Hardest Hit Program offers mortgage =
payment=20
assistance to borrowers who have experienced an unemployment or=20
underemployment event due to no fault of their own. The =
program aims=20
to reduce the number of foreclosures caused specifically by a =
substantial=20
loss of income. The assistance allows eligible households to =
maintain=20
their home while they work to regain employment and financial=20
stability. Illinois Hardest Hit Program offers two types of=20
assistance:
1. Reinstatement assistance to =
pay=20
mortgage arrearages, fees, and penalties in full, and
2.=20
Monthly mortgage payment assistance to pay the =
mortgage=20
payment for homeowners struggling to make their monthly payment.=20
Interested homeowners should visit the official =
site of=20
the Illinois Hardest Hit Program, www.illinoishardesthit.org to learn more and=20
apply. Inquiries may also be directed to the Illinois =
Hardest Hit=20
Program toll-free line at 1-855-873-7405. Para ayuda con la =
solicitud=20
de HHF, marque 855-873-7405.
Overall program parameters are documented and summarized in =
IHDA=E2=80=99s Proposal
to Treasury and the Summary =
Guidelines (Term Sheet).
Consumers should beware of fraud. www.illinoishardesthit.org is the =
official website=20
for the Illinois Hardest Hit Program. The application is =
free.=20
You will not be asked to pay for any eligibility =
determination=20
services related to this application. To report fraud, visit =
www.loanscamalert.org.
Intake agencies interested in participating in =
the=20
Illinois Hardest Hit Program should complete an HHF Sponsor Application and submit to jvanderwoerd@ihda.org.
Reporting Information
The first =
quarterly=20
report to Treasury was submitted for the period of 1/1/11-3/31/11, =
click=20
here.
The second quarterly report to =
Treasury=20
was submitted for the period of 4/1/11-6/30/11, click here.