Homeowner Assistance Fund expands to $21M

Maui County News Release

Even more Molokai homeowners may be eligible for mortgage or other qualified housing expense assistance through the Maui County Homeowner Assistance Fund Program. Homeowners on Maui, Molokai and Lanai who were affected negatively by the impacts of the COVID-19 pandemic may be eligible for assistance and other resources to help avoid foreclosure.

Eligible homeowners may receive up to $60,000 in assistance through the program’s contracted service provider, Catholic Charities Hawaii (CCH).

The program started in May with an initial allocation of $7 million and recently received an additional $14 million. The additional funding will allow the program to serve between 240 and 570 more homeowners who experienced a financial hardship associated with the COVID-19 pandemic. The total number of homeowners to be assisted by the full $21 million in funding is between 357 and 850.

“These additional funds will support Maui homeowners who were negatively impacted by the COVID-19 pandemic and are having difficulty covering their mortgage expenses, property tax and other eligible housing expenses,” said County of Maui Mayor Richard Bissen.

The county is encouraging Maui homeowners who may need financial assistance to apply for the MHAF waitlist. CCH will initially contact waitlist registrants to prescreen for eligibility as capacity allows. Since opening the program on May 6, CCH has received 563 waitlist registrations. After screening the waitlist for eligibility and providing prescreen eligibility questionnaire links, a total of 307 prescreen questionnaires and 142 applications were received, representing $545,000 in assistance to date.

Assistance is primarily for mortgage loans but can be provided for other qualified housing expenses. Assistance is prioritized to arrears first and then to future mortgage payments, for up to 12 months or until the maximum assistance amount is reached, whichever occurs first. Future payments for other qualified housing expenses are limited to a maximum of three months or until the maximum assistance amount is reached, whichever occurs first. If you want to learn more about house financing and mortgages, you may consult with a California Hard Money Lender.

Homeowners are not required to have a mortgage to receive other qualified housing expense assistance, but must meet all other program eligibility requirements. Other qualified housing expenses include Homeowner Association (HOA) fees, Planned Unit Development (PUD) Community Association Fees, leasehold fees, property taxes, utilities, and homeowners insurance. Other services may be offered, including HUD-certified housing counseling or legal services.

More information is available at mauicounty.gov/housing and scrolling down to “Hot Topics” – Maui County Homeowner Assistance Fund. Questions can be directed to CCH by email at mauihafhelp@catholiccharitieshawaii.org or phone at (808) 873-4673.