Some good news for renters in Illinois.
The state government announced a $300 million fund to help people who have fallen behind on their rent or their mortgage because of COVID-19.
The money is part of the $3.5 billion that Illinois received from the federal Coronavirus Aid, Relief and Economic Security (CARES) Act.
Kristin Faust, executive director of the Illinois Housing Development Authority, which is administering the program, says the money “will help make people whole who were suddenly hit with income loss or unemployment by the COVID-19 crisis.”
That’s also great news for landlords. In July, the U.S. Census Bureau reported that about 28% of adults in Illinois were not sure they could make their next housing payment.
For renters who qualify, $5,000 will be paid directly to their landlord.
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Mr. Willig engages and coordinates a professional team of real estate brokers, general contractors, leasing agents, and property managers in order to rehabilitate, lease and maintain the properties he acquires for SpringView Investments. He has over 20 years of finance and accounting experience.