WASHINGTON - Today, the U.S. Department of Housing and Urban Development (HUD), through the Federal Housing Administration (FHA), has announced an extension of the foreclosure moratorium for borrowers with FHA-insured mortgages in Maui County, HI, through January 1, 2025. The decision comes in response to the wildfires' devastation, limited access to resources, and unique challenges faced by Maui residents.
HUD Acting Secretary Adrianne Todman expressed, "This past September, I visited Maui and saw the damage that wildfires inflicted on homes, communities, and families. I also met with local officials, ensuring them that HUD and the entire Biden-Harris Administration is with them for the long haul." Todman emphasized HUD's commitment to supporting Maui homeowners in their recovery efforts.
Federal Housing Commissioner Julia Gordon echoed Todman's sentiments, stating, “We’ve extended the foreclosure moratorium in Maui County, a county that experienced extreme devastation.” Gordon highlighted the agency's dedication to assisting Maui County residents in their recovery journey.
The extension of the foreclosure moratorium aims to provide affected borrowers in Maui County with additional time to access federal, state, and local assistance, work with HUD-certified housing counselors, and rebuild without the added stress of foreclosure actions. Mortgage servicers are instructed not to initiate new foreclosure actions on FHA-insured properties in Maui County.
For borrowers in Maui County facing financial challenges, immediate relief options are available. Borrowers with FHA-insured mortgages are encouraged to contact their mortgage servicer or reach out to the FHA Resource Center for assistance. HUD-certified housing counselors stand ready to provide guidance on available options for borrowers and renters in need of housing and disaster recovery assistance.
As Maui County continues its recovery efforts from the wildfires, HUD's extension of the foreclosure moratorium underscores the agency's ongoing support for affected homeowners and communities.
