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Illinois Hardest Hit Program Helps 5,000th Homeowner

by Chicago Agent

illinoishardesthit

Illinois Hardest Hit, a temporary mortgage payment assistance program, has helped its 5000th homeowner avoid foreclosure. The program awards $25,000 in assistance to unemployed or underemployed homeowners catch up with their mortgage payments.

By Carlo Calma

Illinois Hardest Hit, a temporary mortgage payment assistance program, has helped its 5,000th homeowner protect their home from foreclosure, according to an issued press release.

Resident James Thomas Henry is the 5,000th homeowner the state assistance program has helped, which has given more than $57 million in mortgage payment assistance, with almost $114 million in funds approved. Launched in 2011, Illinois Hardest hit is the flagship program under Gov. Pat Quinn’s Illinois Prevention Network (IFPN), and is ranked as one of the top states in the nation among states that operate a Hardest Hit Fund program.

Henry’s Story

After losing his job a year after buying a new townhouse, Henry, a resident of Bloomingdale, feared he might also lose home.

After hearing about Illinois Hardest Hit on the radio, Henry signed up online and was approved for the program’s assistance.

“I have the stability so I don’t have to worry about where I’m going to live, and I can focus instead on securing new employment,” he said. “This program brings peace of mind.”

Illinois Hardest Hit’s Impact

Overseen by the Illinois Housing Development Authority (IHDA), the program provides qualified homeowners who are unemployed or underemployed with up to $25,000 in mortgage payment assistance. The state is on of 18, and the District of Columbia, that received funding under the U.S. Department of Treasury’s Hardest Hit Fund.

Through the IFPN’s efforts, more than 37,000 homeowners have received homeownership counseling.

“I am pleased to see the success of Illinois Hardest Hit because it is vital that we connect struggling homeowners across our state with resources,” said Quinn. “We know that keeping people in their homes is the most important thing we can do to strengthen families, communities and our economy.”

To learn more about Illinois Hardest Hit, and to sign up for its assistance program, visit illinoishardesthit.org, or call their hotline at 855-KEEP-411.

 

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