Homeowners to receive mortgage assistance through new EMA Program

The Illinois Housing Development Authority (IHDA) has developed the Emergency Mortgage Assistance Program (EMA) to support Illinois homeowners unable to pay their mortgages due to a COVID-19 related loss of income. 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.

It is estimated that 10,000 homeowners will receive funding through the program.

Applications for this program will be accepted from August 24 to September 4. ​It is advisable to start the application once available on August 24 due to high demand. Due to anticipated high volume, the application window may close early.

You can learn more about the program and how to apply at www.ema.ihda.org. If you have any questions, call (312) 883-2720 or toll-free at (888) 252-1119.

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