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.
-
Kokomo man wants to share story of overcoming addiction with others
The Carmel Marathon is this weekend. For some, crossing that finish line after 26.2 miles is the hardest feat of their lives. Brent Wright says overcoming addiction motivates him to race years later.
Braun announces crackdown on 'nuisance bars'
Governor Mike Braun announced on Thursday a collaboration between police agencies to address public safety concerns surrounding 'nuisance bars.'
Understanding the proposed Fishers long-term rental ordinance
Fishers is poised to become the first city in Indiana to place restrictions on long-term rental properties, a move that has ignited strong opinions among residents and industry experts.
Indiana water systems to remove lead pipes amid uncertainty at federal level
Water systems across Indiana are moving forward with identifying and removing lead service lines amid uncertainty at the federal level.
