Yingling Highlights New Rent and Mortgage Relief Programs
06/24/2020ROUND LAKE BEACH, Ill. – In response to the economic hardship caused by the COVID-19 pandemic, state Rep. Sam Yingling, D-Grayslake, is highlighting new programs to assist residents with rent and mortgage payments.
“With all the stress and hardship being placed on residents due to the ongoing pandemic, the last thing they need to worry about is whether or not they will lose their home,” said Yingling. “Renters and homeowners need relief now, and this new program is a great new resource to help those hit hardest by this pandemic to get much-needed support.”
The Illinois Housing Development Authority (IHDA) will be administering grants of $5,000 to renters and up to $15,000 to homeowners who are unable to pay their rent or mortgage due to a COVID-19 related loss of income on or after March 1, 2020. Renters and homeowners who have been disproportionately affected by the pandemic will be prioritized to receive grants. Grant applications will open in Aug. and be available until the end of the year on a first-come, first-serve basis or until funds run out. For more information, please visit the IHDA website at https://www.ihda.org/.
In Lake County, housing-related expenses, such as rent and mortgages, are some of the highest in the nation, including having a fair market rent higher than 95% of the country according to RentData.org. Yingling has worked to tackle this issue by reducing housing-related expenses for residents. He voted in favor of the most recent budget, which greatly expanded relief for homeowners by allocating hundreds of millions of dollars to rent and mortgage-relief programs. He also helped pass legislation that suspended late payment penalties and tax sales for homeowners.
“My main priority during the COVID-19 pandemic is to bring support and resources to those who have been hit hardest,” Yingling continued. “I highly encourage those who have been struggling to pay for their housing due to this pandemic to strongly consider applying for one of these grants and get the relief they deserve.”