Housing Assistance Fund Update

From Jake's Desk

IHCDA will be administering the Housing Assistance Fund (HAF) which is an assistance program for homeowners experiencing a hardship due to the COVID-19 pandemic.

Earlier this month the U.S. Department of Treasury issued additional guidance for the HAF program. Following this, Treasury opened its online portal for submission of state HAF plans. IHCDA submitted its state plan to Treasury last week. Treasury has not provided a timetable for how long the approval process will take for state plans. IHCDA continues to take steps to ensure it can begin accepting applications as soon as possible once Treasury approval is received.    

General homeowner eligibility requirements for HAF are listed below. Other restrictions may apply depending on the type of mortgage assistance sought by the homeowner. Program parameters are subject to change based on Treasury guidance. You may be eligible for HAF assistance:  

• If you were impacted by the COVID-19 pandemic and experienced a financial hardship on or after January 21, 2020, 
• If you own only one mortgaged home and it is your primary residence 
• If you have an income equal to or less than 150% of the Area Median Income adjusted for household size, or 100% of the National Median Income ($79,900), whichever is greater, and  

• If you live in Indiana.  

We will continue to provide updates as this process continues. If you would like to receive HAF updates, please feel free to register by clicking HERE.