The Illinois Housing Development Authority is offering rental and mortgage assistance to eligible residents impacted by the COVID-19 pandemic, state Rep. Jeff Keicher, R-Sycamore, announced Aug. 4.
The Emergency Rental Assistance program will provide renters impacted by COVID-19 $5,000 for back rent and prepay through 2020, or until funds are exhausted. If approved, payment will be wired directly to the landlord within 10 business days, 15-20 days if by paper check. IHDA will accept applications through Aug. 21.
The Emergency Mortgage Assistance program will provide homeowners impacted by COVID-19 up to $15,000 to reinstate their mortgage and prepay through 2020 or until funds are exhausted. If approved, payment will be sent directly to the mortgage services in about 7-10 days after the homeowner signs a promissory note. A second payment will occur up to one month after the first. IHDA will accept applications through Sept. 4.
Visit era.ihda.org for eligibility information.