Hawaiian Homes Commission Approves DHHL Loan DeferralMarch 26, 2020, 10:23 AM HST · Updated March 26, 10:23 AM 0 Comments
*The information below was provided by the Department of Hawaiian Homelands.
The Hawaiian Homes Commission approved an emergency postponement of mortgage payments for Department of Hawaiian Home Lands 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.
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.”
The meeting was held via teleconference due to travel restrictions and social distancing measures, in accordance with COVID-19 precautionary guidelines.
Pursuant to Governor David Ige’s March 4, 2020, Supplementary Proclamation in response to the COVID-19 pandemic, Hawai`i Revised Statutes Chapter 92 regarding public agency meetings and records is currently suspended through May 15, 2020, to the extent necessary to enable boards to conduct business without holding meetings open to the public and to allow state agencies the ability to more effectively provide emergency relief and engage in emergency management functions.
Beneficiaries were allowed the opportunity to provide public testimony via an online submission form.
Chair Ailā has also issued a letter to 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, please 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.