Bill Text: IL HB4154 | 2021-2022 | 102nd General Assembly | Introduced

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Bill Title: 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.

Sponsorship: Partisan Bill (Democrat 2)

Status: (Introduced - Dead) 2021-10-19 - Referred to Rules Committee [HB4154 Detail]

Download: Illinois-2021-HB4154-Introduced.html

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102ND GENERAL ASSEMBLY State of Illinois 2021 and 2022 HB4154 Introduced , by Rep. La Shawn K. Ford 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
HB4154 LRB102 20059 LNS 28902 b
AN ACT concerning civil law.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Code of Civil Procedure is amended by
adding Part 18 to Article XV as follows:
(735 ILCS 5/Art. XV Pt. 18 heading new)
Part 18. COVID-19 Mortgage Forbearance Program Loan
(735 ILCS 5/15-1801 new)
Sec. 15-1801. Federal COVID-19 mortgage forbearance
program loan.
(a) The Illinois Housing Development Authority may 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.
(b) A homeowner may apply to the Illinois Housing
Development Authority for a loan only if the homeowner:
(1) has participated in the federal COVID-19 mortgage
forbearance program under the Coronavirus Aid, Relief, and
Economic Security Act;

HB4154 - 2 - LRB102 20059 LNS 28902 b
(2) is delinquent in escrow payments or property tax
payments to the mortgage lender; and
(3) 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.
(c) The Illinois Housing Development Authority shall
determine the amount to be issued to the homeowner based on the
application submitted by the homeowner. The amount shall be
made payable to (i) the mortgagee or homeowner and (ii) either
the mortgage servicer or the county in which the homeowner
resides.
(d) The Illinois Housing Development Authority shall place
a lien on the property for which the homeowner is delinquent on
payments.
(e) The amount due on the loan shall decrease in a simple
percentage calculation.
(f) The Illinois Housing Development Authority shall
forgive the loan after 3 years if the homeowner is not in
arrears on the loan.
(g) The money for the loan shall come from federal
Coronavirus Relief Fund moneys made available for the loan
program.
Section 99. Effective date. This Act takes effect upon
becoming law.