Mortgage Assistance Opportunity through IL Housing Development Authority

December 5, 2016 02:47 PM
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The Illinois Housing Development Authority has announced a source of assistance available to homeowners burdened with underwater mortgages. Funded by the U.S. Department of the Treasury, the I-REFI program offers up to $50,000 in federal assistance to individuals who are current on their mortgage payments, but owe more than their home is worth. I-REFI assistance goes towards helping qualifying homeowners reduce their balance owed to bring their mortgage in line with their home’s current value, and refinance into a new affordable loan. Interested individuals can begin this process by contacting participating I-REFI lenders, which can be found on IHDA’s website (https://www.ihda.org/wp-content/uploads/2016/07/I-Refi-Participant-List-14.pdf).
 
More information on the program, including homeowner qualifications and contact information can be found on the program’s website (https://www.ihda.org/my-home/irefi/). 
 
 

 

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