State Senator Bill Brady (R-44th District) is encouraging Illinois homeowners who have been unable to pay their mortgages due to a COVID-19 related loss of income to apply for the Emergency Mortgage Assistance program (EMA), which is administered by the Illinois House Development Authority.
“The economic impact COVID-19 has had on our state has left many residents unable to pay their mortgage due to a loss of income,” said Brady. “I would encourage those who quality to submit their application as quickly as possible, before the application window closes.”
If approved, homeowners will receive a grant for up to $15,000 to cover missed mortgage payments beginning as early as March 2020 and prepay mortgage payments through December 2020, or until the $15,000 is exhausted. Not all households will receive $15,000 and an application alone is not a guarantee of assistance. Assistance will be paid directly to the mortgage servicer on the homeowner’s behalf. The EMA program will only pay full mortgage payments; no partial payments will be made.
Applications for EMA will be accepted August 24-September 4. Due to anticipated high volume, the application window may close early. IHDA will use a third-party entity to select a pool of applications to be reviewed for eligibility. Approximately 10,000 homeowners are expected to receive funding.
If you need help applying for this program, IHDA has partnered with 62 Community and Outreach Assistance organizations who can assist you at no cost. You can find a directory via the Resource button on ema.ihda.org.
For additional assistance you may also call IHDA’s call center at (312) 883-2720, or toll-free at (888) 252-1119. For those who are deaf, hard of hearing or speech-impaired, please contact Navicore Solutions for free assistance at (877) 274-4309 (TTY).