FORECLOSURE HELP FROM IHDA – “Hardest Hit Fund”
Hardest Hit Fund
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Hardest Hit Fund – Home Emergency Loan Program (HHF HELP)
The U.S. Treasury Department has approved IHDA’s plan to utilize $445 million in federal funds to assist Illinois homeowners struggling to pay their mortgages due to job loss or income reduction. Illinois’ program called the “Hardest Hit Fund’s Homeowner Emergency Loan Program” or “HHF HELP” will assist low and moderate income families across the state with temporary mortgage payment assistance while they work to regain sufficient income to pay their mortgage.
HHF HELP aims to reduce the number of mortgage delinquencies and avoidable foreclosures caused by unemployment and underemployment and to preserve homeownership for Illinois’ moderate and low income families. As the HHF HELP program is under development, IHDA is not currently accepting any applications, but anticipates opening the application period during the summer of 2011. Please check back with this site for any program updates.
If you need assistance now and are currently struggling with your mortgage payment, are delinquent on your loan, or are facing foreclosure, immediately contact a HUD-certified housing counseling agency serving your area and also contact your loan servicer. Consumers should beware of fraud. To protect yourself, avoid anyone who:
– asks you to pay a fee in advance, before providing any service to you
– guarantees that they will stop a foreclosure or can modify your loan
– tells you to stop paying your mortgage company and pay them instead
To report fraud, visit http://www.loanscamalert.org.
To find a foreclosure counselor in your area click here.
For a list of HUD certified counseling in Illinois click here.
To view term sheet click here.
Please call 855-873-7405 for the HHF Application Toll Free Help Line.
Para ayuda con la solicitud de HHF, marque 855-873-7405.
The first quarterly report to Treasury was submitted for the period of 1/1/11-3/31/11, click here.
The second quarterly report to Treasury was submitted for the period of 4/1/11-6/30/11, click here.