Loan Forbearance for DHHL Mortgages Available
Loan forbearance is an option for Native Hawaiians with mortgages on properties obtained through the Department of Hawaiian Homelands.
The Hawaiian Homes Commission (HHC) approved an emergency postponement of mortgage payments for DHHL direct loans and loans assigned to DHHL during a special emergency meeting on Tuesday, March 24, 2020, as the State faces the COVID-19 pandemic.
HHC’s approval allows for the deferral of all applicable payments for a period of six months, effective with the April 2020 payment, according to an HHC press release.
Lessees or borrowers who may need additional time beyond the six-month allotment can request relief from the Department and will be evaluated on a case-by-case basis, ultimately going before the HHC board for approval.
“We can already see there will be a long-term economic impact from the COVID-19 crisis and the Department felt it was important to act swiftly in the interest of beneficiaries during this uncertain time,” said Hawaiian Homes Commission Chairman William J. Ailā, Jr. “This action affects over 1,200 direct loans administered through DHHL. Anyone with a loan through a private institution is encouraged to contact their lender immediately should you be experiencing financial hardship due to the COVID-19 outbreak.”
Chair Ailā has also issued a letter (HUD) informing them of HHC’s decision and has requested that they provide assistance to DHHL beneficiaries who are impacted by COVID-19 and who have HUD FHA 247 and HUD 184 loans.
For information about DHHL loan deferrals, call 808-620-9500. If you have a loan with an outside lender and are facing financial hardship due to COVID-19, the Department encourages you to contact your provider as soon as possible.