By Greg Bishop - Illinois Radio Network
Hundreds of millions in funds from the federal government for rental payments during the COVID-19 pandemic through the Illinois Housing Development Authority have yet to be released.
Dave Giammarrusco owns an investment property in Springfield. He said he is owed thousands by a tenant who he says is hiding behind an eviction moratorium that continues through this summer.
“I have depleted my savings, depleted my emergency funds from paying the mortgages,” he said.
He also continues to pay his property taxes.
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While some have urged similarly situated landlords to apply for the federally funded Paycheck Protection Program, Giammarrusco said he doesn’t qualify.
Illinois is paying off $25 million in student loans to encourage homeownership, and that s drawing buyers to the state msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
By Tim Kirsininkas & Capitol News Illinois
• 4 hours ago
As economic uncertainty continues to linger one year into the COVID-19 pandemic, housing advocates across the state are planning next steps to protect tenants and landlords and create additional affordable housing opportunities.
Over the past several weeks, the General Assembly has considered various bills on the subject, including emergency rental assistance, lifting the state ban on rent control, and subsidizing future affordable housing construction in the state.
Advocates for affordable housing in Illinois, including Rep. Delia Ramirez, a Democrat representing the 4th House District in Chicago, say the pandemic has shed new light on an ongoing affordable housing crisis and sparked a new sense of urgency to support tenants and landlords struggling to afford rent and upkeep their properties.
Illinois is paying off in student loans to encourage homeownership nationalmortgagenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalmortgagenews.com Daily Mail and Mail on Sunday newspapers.
Illinois is offering to pay off up to $40,000 of new homeowners student loan debt in a bid to attract new buyers as part of a new $25 million scheme.
The Illinois Housing Development Authority’s SmartBuy program will offer a loan equal to 15% of the home purchase price, or pay off up to $40,000 in student loans, whichever is lower. It will also provide $5,000 that can be applied to your down payment or closing costs.
One couple from Florida considered moving to Indiana before hearing about the SmartBuy program.
‘It definitely made the decision to move easier, and buying a home possible,’ says Peter Maloney, 26.