this U.S. Department of Housing and Urban Development On Friday, the U.S. Department of Housing and Urban Development (HUD) announced a new wave of disaster relief operations in the state of Hawaii, targeting the island of Kauai following severe storms, flooding and landslides in April.
On June 17, President Biden issued an executive order approving the state’s declaration of a state of disaster. He directed “the federal government to provide assistance to supplement state and local recovery efforts in areas affected by the severe storms, flooding and landslides that occurred on April 11-14.”
“Federal funds are available on a cost-shared basis to state and eligible local governments and certain private nonprofit organizations for emergency work and repair or replacement of damage to Kauai County caused by severe storms,” Biden said in a statement. Facilities damaged by flooding and landslides “Federal funds may also be used on a cost-share basis for statewide hazard mitigation measures. “
HUD is immediately implementing federal disaster assistance for Kauai County housing programs, including a “90-day moratorium on foreclosures.” federal housing administration (FHA) and foreclosures on mortgages to Native American borrowers guaranteed under the Section 184 Indian Home Loan Guarantee Program.
In addition to this relief, borrowers in the FHA Home Equity Conversion Mortgage (HECM) program, also known as the federal reverse mortgage program, will automatically receive a 90-day extension, effective on the date of the disaster declaration.
HUD recommends that anyone affected by these disasters contact their loan servicer immediately for assistance and advises conventional and non-agency mortgage holders to see if they qualify for assistance.
HUD has been working to provide disaster relief efforts in Hawaii since wildfires broke out on Maui in the summer of 2023. die. According to the Associated Press, two people are still missing and two-thirds of the victims are 60 years or older.
Last month, the Federal Housing Administration (FHA) extended Maui’s foreclosure moratorium until August 4, 2024, as reconstruction and rehabilitation efforts continue.
