Homeowners at risk of foreclosure have a new resource to tap: The Illinois Hardest Hit program offers mortgage payment assistance to borrowers who have experienced an unemployment or underemployment event due to no fault of their own. The program aims to reduce the number of foreclosures caused specifically by a substantial loss of income. The assistance allows eligible households to maintain ownership of their home while they work to regain employment and financial stability.
The Illinois Hardest Hit Program offers two types of assistance:
- Reinstatement assistance to pay mortgage arrearages, fees, and penalties in full, and
- Monthly mortgage payment assistance to pay the mortgage payment for homeowners struggling to make their monthly payment.
Employers can help get the word out to eligible employees. Partners involved in interjurisdictional efforts are also eager to make sure local workers and residents benefit from this assistance.
Contact MPC staff for assistance helping your employees and residents take advantage of this program.
Learn more about the Illinois Hardest Hit program on the Illinois Housing Development Authority's web site.