April 11, 2022

Mortgage assistance available for struggling homeowners



Mortgage assistance is available for Hoosiers financially impacted by the COVID-19 pandemic.

Indiana Lt. Governor Suzanne Crouch said $167 million is available in the Indiana Homeowners Assistance Fund through the American Rescue Act.

“Fund will not only pay for mortgage payments, but also will provide reinstatement fees, property taxes, homeowner or condominium fees,” Crouch said.

Homeowners must meet certain criteria to be eligible for the assistance:

  • Have an income equal to or less than 150% of the area median income or 100% of the median income for the United States, whichever is greater.
  • Experienced financial hardship after Jan. 21, 2020 associated with the coronavirus pandemic. (A Qualified Financial Hardship is a reduction in income or increase in living expenses associated with the pandemic.)
  • Expenses must be related to your primary residence located in Indiana.
  • The maximum IHAF assistance amount per household is $35,000 and is limited to one time per household. Funds are paid directly to the mortgage lender and are not considered taxable income.

There is no deadline to apply for assistance.

“We are encouraging homeowners who are struggling now or perhaps find themselves in a position where they are struggling in the future to call 877-get hope or go to 877gethope.org,” Crouch said.

Indiana has up to five years to distribute the funds.

In addition to the IHAF program, The Indiana Housing and Community Development Authority has other resources for Hoosiers in need of assistance, including:

Rental Assistance – The Indiana Emergency Rental Assistance Program provides up to 18 months of rental and utility assistance to those who self-attest to having been impacted by COVID-19.

Utility Assistance – The Low-Income Home Energy Assistance Program and the Low-Income Home Water Assistance Program helps Hoosier homeowners and renters pay their heat, electric and water bills.

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