Frequently Asked Questions
I am a renter and can’t make the payment for my rent. What should I do?
You cannot be evicted for nonpayment of rent due to financial impacts of COVID-19 emergency. However, you must take action.
The U.S. Department of Housing and Urban Development has suspended all evictions for 120 days beginning March 27, 2020, according to provisions in the CARES Act. But you must keep documentation of the hardship; evictions have been suspended 60 days if proper notice is provided with documentation.
What assistance is available for multifamily property owners?
The CARES Act provides interest and penalty-free forbearance for owners of multifamily properties with federally backed mortgages (i.e., FHA, USDA, VA, HUD Sec 184, Fannie Mae, or Freddie Mac). The act allows for an initial 30 day forbearance with two 30 day extensions, for a total of 90 days.
Property owners who seek forbearance are prohibited from evicting tenants for non-payment or charging additional fees or penalties during the forbearance period. Owners must also give a 30 day notice before evicting tenants at the end of the moratorium.
Property owners should contact their mortgage servicers for more information.
What if my loan is not federally backed?
You should still reach out to your loan servicer. Financial regulators have encouraged lenders to work with mortgage holders. Contact Legal Aid Society of Hawaii or a HUD approved housing counselor. You can find the nearest housing counselor by calling (800) 569-4287.
How do I know if my mortgage is eligible for relief (or federally held)?
The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides relief for homeowners with government-guaranteed mortgages.
If the coronavirus pandemic has caused job loss, income reduction, sickness, or other issues, federally held mortgages are eligible for relief. Mortgages backed by FHA, USDA, VA, HUD Sec 184, Fannie Mae, or Freddie Mac are eligible for interest and penalty free forbearance for at least 6 months and up to one year.
Forbearance puts your payments on pause. You will still have to make these payments; however, interest will not accrue during this coronavirus-related forbearance period.
Negative credit reporting is also suspended. Homeowners in need of the forbearance should reach out to their mortgage servicers as soon as possible or contact a HUD-approved housing counselor. Contact information for a homeowner’s mortgage servicer can be found in monthly mortgage statements or coupon book. The nearest housing counselor can be found at https://www.consumerfinance.gov/find-a-housing-counselor/ or by calling (800) 569-4287.
Please check back frequently to see new and updated resources.