The Federal Housing Administration (FHA) is extending its foreclosure moratorium for borrowers with FHA-insured mortgages in Maui County, Hawaii, through Jan. 1, 2025.
The extension will provide homeowners impacted by the August 2023 wildfires with more time to obtain federal, state and local assistance, to work with a HUD-certified housing counselor, and/or to rebuild without the added burden of dealing with foreclosure actions.
FHA is instructing mortgage servicers they must not initiate new, or continue with existing, foreclosure actions on FHA-insured single family forward mortgages and Home Equity Conversion Mortgages for properties located in Maui County. FHA’s foreclosure moratorium for Maui County has been in place for eight months and was set to expire on May 6, 2024.
“We’ve extended the foreclosure moratorium in Maui County, a county that experienced extreme devastation,” said Federal Housing Commissioner Julia Gordon. “We remain committed to doing all that we can to help the residents of Maui County recover from this disaster.”
Photo courtesy U.S. Department of Homeland Security
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