ROCK ISLAND COUNTY, Ill. — Rock Island Economic Growth Corporation is partnering with Illinois Housing Development Authority for their Illinois Homeowner Assistance Fund.
The program, which launched April 11, allows Illinois homeowners who were hit the hardest by the pandemic to apply for a housing assistance grant of up to $30,000.
Homeowners must meet with either their mortgage company or a HUD-certified housing counseling agency before they can apply for the grant. An agency like Rock Island Economic Growth Corporation.
"Our staff is trained, they're here to help and all of the services are free," said Beth Payne, the vice president of Rock Island Economic Growth Corporation.
Illinois homeowners must qualify for the grant.
"It's really based on their mortgage payments, they had to be at least 30 days delinquent on their mortgage, at least meaning it had to start back in January 2020. And they had to demonstrate the loss of income, they had to demonstrate a lot of different things to show that they're eligible for the program," Payne said.
Assistance will be paid directly to the mortgagor's loan company, taxing body and other approved entities on behalf of the homeowner. Payne advises that interested homeowners take their webinar before scheduling an appointment.
"The webinars provide an excellent opportunity for the interested homeowner to find out information about the program, plus also give them an opportunity to get their gather their information, the documents that will be required to participate with the program," said growth manager James Jones. "Some of the documents will have to be your mortgage paperwork will also require you to complete a budget, that's something that will be done when you meet with one of the HUD certified housing counselors at economic growth."
After the application is complete, it will take up to six weeks before it is approved or denied.
For more information on how to sign up for an appointment or webinar, visit their website here.