INDIANAPOLIS — The Indiana Homeowners Assistance Fund is here and its goal is to keep Hoosiers in their homes. The $167 million program is being funded by American Rescue Plan money.
"Perhaps they got behind in their tax payment or behind in their Home Owners Association fees or Condo Fees,” said Lt. Governor Suzanne Crouch. “All of those things could qualify them for this assistance."
Hoosiers who are struggling can qualify for up to six months of mortgage payments or $35,000. To qualify, you must:
- Live in Indiana
- Be the homeowner of a home you are actively living in
- Have experienced a financial hardship after January 21, 2020, associated with the COVID-19 pandemic
"Individuals will attest that they have fallen on hard times because of the COVID-19 pandemic and that could mean that their income has been affected adversely or ... perhaps expenses have gone up, "Lt. Governor Crouch said.
IHAF assistance may be used in a variety of ways including, but not limited to, the following:
- To bring a homeowner’s loan current (pay outstanding monthly mortgage payments)
- To provide ongoing monthly mortgage payment assistance
- To pay for outstanding escrow items (taxes, insurance and HOA dues)
For Michigan City resident Loretta McGee, this program has been life changing. McGee says because of the program, she has been able to focus on finding a better job and care for her sick loved one. She says the process of applying for the program was easy to navigate thanks to housing councilors helping her every step of the way.
"This program for me has been more than what family could do for me. This program for me has been family because of the assistance it's provided,” said McGee. “I would definitely be in a state of foreclosure at this point."
Before the pandemic, McGee worked for Michigan City schools. She said her hours were reduced drastically and she lost half of her income. She says this program has helped her get back on her feet and allowed her to focus on finding better employment.
"That put me in the position to be able to look for opportunities to better enhance myself,” said McGee. “There is no way I'd be able to run around and get a better job while I am thinking 'oh my God, I'm not going to be able to keep my home.'"
After homeowners have been approved for the assistance program, the money will go directly to lenders and to municipalities, insurance companies and homeowner’s associations.
Homeowners wont be required to pay the money back as long as they stay in the home for five years.
At this time, there is no deadline for homeowners to apply.
For more details about the program, click here or call 1-877-GET-HOPE.
-
Mechanical issue causes fire on IU Indy basketball team’s bus
The IU Indianapolis men’s basketball team is safe after their bus caught fire during their commute home on Sunday.
College Goal Sunday emphasizes the importance of FAFSA filing
On Sunday, Dozens of schools around the state opened their doors to help students and their families file for Student Aid.
The Excel Center gives adults a second chance at a high school diploma
The Excel Center is Goodwill’s tuition-free high school for adults. It helps students overcome adversity and earn their high school diploma later in life.
Local advocacy group trying to spark change following shift in policies
Recent federal and state policies are creating some uncertainty in local communities. Indivisible of Central Indiana is trying to spread awareness and spark change.
