102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB4154
 
Introduced 10/19/2021, by Rep. La Shawn K. Ford and Michelle Mussman
 
SYNOPSIS AS INTRODUCED:
 

 
735 ILCS 5/Art. XV Pt. 18 heading new
735 ILCS 5/15-1801 new

     Amends the Code of Civil Procedure. Allows the Illinois Housing Development Authority to issue a one-time loan of up to $25,000 to pay delinquent escrow payments  or property tax payments in forbearance accrued between March 17, 2021 through September 30, 2021 for homeowners who participated in the federal COVID-19 mortgage forbearance program under the Coronavirus Aid, Relief, and Economic Security Act. Allows a homeowner to apply to for the loan if the homeowner:  has participated in the federal COVID-19 mortgage forbearance program; is delinquent in escrow payments or property tax payments to the mortgage lender; and has enrolled in or has the ability to enroll in a remediation process with the homeowner's mortgage servicer to bring the mortgage out of forbearance. Requires the Illinois Housing Development Authority to: determine the amount to be issued to the homeowner based on the application submitted by the homeowner; place a lien on the property for which the homeowner is delinquent on payments; and forgive the loan after 3 years if the homeowner is not in arrears on the loan.  Effective immediately.
  


LRB102 20059 LNS 28902 b

FISCAL NOTE ACT MAY APPLY
 
 
A BILL FOR
 

  
HB4154LRB102 20059 LNS 28902 b


  
1    AN ACT concerning civil law.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  
 
 
4    Section 5. The Code of Civil Procedure is amended  by 
5adding Part 18 to  Article XV as follows:
 
6    (735 ILCS 5/Art. XV Pt. 18 heading new)
7
Part 18.  COVID-19 Mortgage Forbearance Program Loan

 
8    (735 ILCS 5/15-1801 new)
9    Sec. 15-1801. Federal COVID-19 mortgage forbearance 
10program loan.
11    (a) The Illinois Housing Development Authority may issue a 
12one-time loan of up to $25,000 to pay delinquent escrow 
13payments  or property tax payments in forbearance accrued 
14between March 17, 2021 through September 30, 2021 for 
15homeowners who participated in the federal COVID-19 mortgage 
16forbearance program under the Coronavirus Aid, Relief, and 
17Economic Security Act.
18    (b) A homeowner may apply to the Illinois Housing 
19Development Authority for a loan only if the homeowner:
20        (1) has participated in the federal COVID-19 mortgage 
21    forbearance program under the Coronavirus Aid, Relief, and 
22    Economic Security Act;
 
 
HB4154- 2 -LRB102 20059 LNS 28902 b

1        (2) is delinquent in escrow payments or property tax 
2    payments to the mortgage lender; and
3        (3) has enrolled in or has the ability to enroll in a 
4    remediation process with the homeowner's mortgage servicer 
5    to bring the mortgage out of forbearance.
6    (c) The Illinois Housing Development Authority shall 
7determine the amount to be issued to the homeowner based on the 
8application submitted by the homeowner. The amount shall be 
9made payable to (i) the mortgagee or homeowner and (ii) either 
10the mortgage servicer or the county in which the homeowner 
11resides.
12    (d) The Illinois Housing Development Authority shall place 
13a lien on the property for which the homeowner is delinquent on 
14payments.
15    (e) The amount due on the loan shall decrease in a simple 
16percentage calculation.
17    (f) The Illinois Housing Development Authority shall 
18forgive the loan after 3 years if the homeowner is not in 
19arrears on the loan.
20    (g) The money for the loan shall come from federal 
21Coronavirus Relief Fund moneys made available for the loan 
22program.
 
 
23    Section 99. Effective date. This Act takes effect upon 
24becoming law.