DHHL mortgage loan payments postponed again, until June 30
The Maui News
The state Department of Hawaiian Home Lands has postponed mortgage loan payments until June 30, about a year after it first deferred payments because of the pandemic.
“As we stretch into a one-year time period of having COVID-19 in our lives, the department remains conscious of the reality that the pandemic has had on the physical and financial health of our community,” Hawaiian Homes Commission Chairman William Aila Jr. said in a news release Monday. “It is the hope that an additional deferral alleviates financial constraints as we continue to open the state and rejuvenate our economy under Governor Ige’s economic recovery plan.”
The commission first approved a six-month postponement of payments in March 2020 in anticipation of the financial impact the COVID-19 pandemic would have on lessees. It approved three-month extensions in September and December.
DHHL analysis showed that 84.2 percent (128 out of 152) of the loans reassigned by the U.S. Department of Housing and Urban Development/Federal Housing Administration postponed one or more payments since the initial DHHL deferral. Data as of Feb. 19 also showed that 48.3 percent of DHHL direct loan borrowers (465 out of 962) postponed one or more of their payments.
The deferment is an auto-enrolled postponement. If a borrower decides to continue making payments during the deferral period, DHHL will process the payment normally. Interest will continue to accrue during the postponement period, however, no late fees will be added.
All DHHL borrowers will receive notice of the latest extension on their April 2021 mortgage statement, the department said.
For more information, call (808) 620-9500. Borrowers who have a loan with an outside lender and are facing financial hardship due to COVID-19 should contact their provider as soon as possible, the department said.