Last Updated on April 8, 2020 by Indiana Housing and Community Development Authority
SOURCE: News release from IHCDA
INDIANAPOLIS – The Indiana Housing and Community Development Authority (IHCDA) announced today new housing resources available to Hoosiers struggling to pay their rent and mortgage payments. In addition to re-instituting the mortgage payment assistance program through Indiana’s Hardest Hit Fund (HHF) for homeowners, IHCDA has developed a new resource guide to help homeowners and renters avoid future eviction and foreclosure.
“During this public health emergency, housing stability has never been more critical,” said Lt. Governor Suzanne Crouch, who serves as board chair of IHCDA. “I would like to commend all the work and coordination at the federal, state and local levels and between public and private organizations to ensure Hoosiers can remain in their homes.”
“While the Governor’s Executive Order 20-06 protects against eviction and foreclosure in the short-term, we must continue to identify longer-term housing solutions for Hoosier families,” said Jacob Sipe, Executive Director of IHCDA. “These resources provide renters and homeowners a variety of options and support to help them continue to make their payments and avoid it in the future.”
The mortgage payment assistance program through Indiana’s HHF can provide up to $30,000 to eligible Indiana homeowners struggling to pay their mortgage. Hoosier homeowners may be eligible for mortgage payment assistance if they:
- Are an Indiana homeowner
- Own only one mortgaged home, and currently reside in that home
- Are unable to make your monthly mortgage payment and/or past-due mortgage payments because of an involuntary employment-related financial hardship such as a recent job layoff.
- Meet additional eligibility requirements based on income.
For more information, please visit: www.877gethope.org.
IHCDA and the Indiana Department of Financial Institutions (IDFI), in partnership with the Indiana Apartment Association (IAA), Indiana Bankers Association (IBA), Indiana Mortgage Bankers Association (IMBA) and the Indiana Credit Union League (ICUL), developed a new resource guide aimed at helping Hoosiers continue paying their rent and mortgage payments.
“Failing to pay rent or mortgage payment jeopardizes the housing providers’ ability to provide the home,” said Lynne Petersen, President of the IAA. “Ultimately, not paying one’s rent or mortgage may hurt the individual’s credit or result in a difficult time finding housing in the future.”
The resource guide underscores the importance of homeowners and renters to be proactive and communicate to their property manager or mortgage lender if they are unable to make their payments. The guide also provides a list of available resources to pursue.
“We are pleased to have helped put this resource for Hoosiers together,” said Palmer Myers, IMBA President. “We strongly encourage homeowners who are struggling to make their mortgage payments to contact their lenders directly for guidance on the options available to them at this time.”
The guide will be updated as additional resources, information and guidance becomes available.
Hoosiers who are unlawfully subjected to eviction and foreclosure proceedings during the ongoing public health emergency should file a complaint with the Office of the Attorney General’s Consumer Protection Division.