Foreclosure Prevention Program – Graduated Fund

 in Community Development Support / Housing / Illinois Housing Development Authority (IHDA) by

Purpose of the Program

Established by the Illinois General Assembly, the Foreclosure Prevention Program Graduated Fund (FPPG) enables IHDA to make grants to HUD-approved housing counseling agencies to support housing counseling including: pre/post purchase counseling, foreclosure mitigation, financial literacy, counselor training, and capacity building. Funding for this program is derived through plaintiff-paid foreclosure filing fees. IHDA began administration of this program’s first funding round in calendar year 2017.

Who is Eligible

For more information, please go to https://www.ihda.org/my-community/foreclosure-programs/  or contact IHDA at fppinfo@ihda.org.

How Funds are to be used

Under this program, the Authority makes grants to housing counseling agencies in accordance with the below statutorily required distribution:

  • 30% to housing counseling agencies in Cook County outside of the City of Chicago;
  • 25% to housing counseling agencies in the City of Chicago;
  • 30% to housing counseling agencies in DuPage, Kane, Lake, McHenry, and Will Counties; and
  • 15% to the rest of the state.

Eligible uses of grant funds under the program include:

  • computer and equipment expenses

general operational expenses

  • pre-purchase Housing Counseling and post-purchase Housing Counseling
  • foreclosure education, foreclosure prevention outreach programs in conjunction with the Authority or a State or federally chartered financial institution
  • counselor training
  • training of an Administering Agency’s employees
  • capacity building that increases an Administering Agency’s capacity to provide foreclosure prevention outreach programs and housing counseling,
  • technical assistance
  • advertising and marketing of the program any other housing
  • For additional information, please go to https://www.ihda.org/my-community/foreclosure-programs/ or contact IHDA at fppinfo@ihda.org.

For additional information, please go to https://www.ihda.org/my-community/foreclosure-programs/  or contact IHDA at fppinfo@ihda.org.

Types of Assistance

Grants, Technical Assistance, and Other Assistance.

Year Program was established

2017