Illinois Home Equity Assurance Program (ILHAF/Northwest Home Equity Assurance Program)
Funding Amount
Up to $30,000
Deadline
Rolling / Open
Grant Type
foundation
Overview
Illinois Home Equity Assurance Program
Status: Active; amended law takes effect January 2024 (pending board approval as of article date)
Overview: Loan program for homeowners on Chicago's Northwest Side. Program provides emergency financial assistance. Originally focused on renovation loans; amended law expanded eligibility to include homeowners with delinquent property tax payments.
Geographic Scope: Chicago's Northwest Side, Illinois
Focus Areas:
- Homeowners at risk of eviction and foreclosure
- Older adults
- Disabled individuals
- People of color
- Those unable to pay property taxes
Target Population
Background: For years, Northwest Side Housing Center lobbied state lawmakers to change the assurance program into a resource that didn't waste taxpayer dollars. Summer 2024 (article date): State lawmakers passed bill amending Home Equity Assurance Act to allow loans for homeowners with delinquent property tax payments.
Contact: Northwest Side Housing Center, 5233 W. Diversey Ave, Chicago, IL 60639, 773-283-3888
Focus Areas & Funding Uses
Fields of Work
Categories
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