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Homeowners wont be required to pay the money back as long as they stay in the home for five years.Īt this time, there is no deadline for homeowners to apply.įor more details about the program, click here or call 1-877-GET-HOPE.All lenders are not created equal, and Golden Oak Indianapolis has streamlined our process with years of experience. “There is no way I'd be able to run around and get a better job while I am thinking 'oh my God, I'm not going to be able to keep my home.'"Īfter homeowners have been approved for the assistance program, the money will go directly to lenders and to municipalities, insurance companies and homeowner’s associations. "That put me in the position to be able to look for opportunities to better enhance myself,” said McGee. She says this program has helped her get back on her feet and allowed her to focus on finding better employment. She said her hours were reduced drastically and she lost half of her income. “I would definitely be in a state of foreclosure at this point."īefore the pandemic, McGee worked for Michigan City schools. This program for me has been family because of the assistance it's provided,” said McGee.
"This program for me has been more than what family could do for me. She says the process of applying for the program was easy to navigate thanks to housing councilors helping her every step of the way. McGee says because of the program, she has been able to focus on finding a better job and care for her sick loved one. To pay for outstanding escrow items (taxes, insurance and HOA dues)įor Michigan City resident Loretta McGee, this program has been life changing.To provide ongoing monthly mortgage payment assistance.To bring a homeowner’s loan current (pay outstanding monthly mortgage payments).IHAF assistance may be used in a variety of ways including, but not limited to, the following: "Individuals will attest that they have fallen on hard times because of the COVID-19 pandemic and that could mean that their income has been affected adversely or. Have experienced a financial hardship after January 21, 2020, associated with the COVID-19 pandemic.Be the homeowner of a home you are actively living in.Approximately 15 of Americans qualify for some level of housing. The average Fair Market Rent for a 2-bedroom home in Indiana is 801 per month. Hoosiers who are struggling can qualify for up to six months of mortgage payments or $35,000. For FY 2021, the Indianapolis-Carmel, IN HUD Metro FMR Area (Boone County) rent for a studio or efficiency is 678 per month and 1,455 per month to rent a house or an apartment with 4 bedrooms. “All of those things could qualify them for this assistance." "Perhaps they got behind in their tax payment or behind in their Home Owners Association fees or Condo Fees,” said Lt. The $167 million program is being funded by American Rescue Plan money. INDIANAPOLIS - The Indiana Homeowners Assistance Fund is here and its goal is to keep Hoosiers in their homes.
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