Emergency Mortgage Assistance Available
Hawaii Housing Finance and Development Corporation News Release
The U.S. Department of Housing and Urban Development (HUD) offers an Emergency Homeowners’ Loan Program (EHLP), of which 130 homeowners in Hawaii may be assisted with a 0 percent interest, forgivable loan.
EHLP provides emergency mortgage assistance to homeowners who are temporarily and involuntarily unemployed or underemployed due to the economy, or have a medical condition and are at risk of foreclosure. The forgivable loan is up to $50,000 that pays past-due mortgage payments, as well as a portion of the homeowner’s mortgage payment for up to 24 months. Homeowners will receive counseling before and during the loan period.
Hawaii Housing Finance and Development Corporation (HHFDC) will provide counseling for 54 homeowners through three nonprofit agencies: Consumer Credit Counseling Service, Hawaii HomeOwnership Center, and Hale Mahaolu (Maui County only). Three HUD-approved intermediaries will provide counseling for 76 homeowners: Homeownership Preservation Foundation, Money Management International Inc. and National Community Reinvestment Coalition.
Submit a pre-application by July 22 to a counseling agency. The pre-application form and other information can be found on the EHLP website.
Visit hawaii.gov/dbedt/hhfdc or portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/hcc/ehlp/ehlphome for applications and more information.
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