Federal relief information
Immediate needs of affected Homeowners
Borrowers with a Freddie Mac or Fannie Mae mortgage loan may receive an automatic 90-day forbearance, meaning that no payment will be due for at least 90 days. This forbearance may be automatic – please check with your mortgage servicer or lender.
A 90-day forbearance may also be available for Federal Housing Finance Agency (FHFA) and Veterans Affairs (VA) borrowers; however, homeowners are required to contact their mortgage loan servicer to request the forbearance.
The Federal Housing Administration (FHA) offers housing counseling to any homeowner regardless of where they received their mortgage loan. Homeowners can contact the FHA housing counseling services at 1-800-569-4287 and the FHA Resource Center at 1-800-304-9320.
If you are unsure of who owns your mortgage loan, the following tools can assist.
- Utilize Fannie Mae and Freddie Mac mortgage look-up functions.
- Mortgage Electronic Registration Systems: https://www.mers-servicerid.org/sis/
The Federal Deposit Insurance Corporation (FDIC) has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Hawaiʻi affected by wildfires. The FDIC encourages depository institutions in the affected areas to meet the financial services needs of their communities. A copy of the guidance is available on the FDIC website. Highlights include:
- Encourage banks to work constructively with borrowers experiencing difficulties beyond their control because of damage caused by wildfires.
- Banks that extend repayment terms, restructure existing loans, or ease terms for new loans in a manner consistent with sound banking practices can contribute to the health of the local community and serve the long-term interests of the lending institution.
- Banks may receive favorable Community Reinvestment Act consideration for community development loans, investments, and services in support of disaster recovery.
- The FDIC also will consider regulatory relief from certain filing and publishing requirements.
Borrowers are encouraged to contact their lenders to identify if financial programs and mortgage deferral programs are available.
*If you have been affected by wildfires in Hawaii, FEMA can help, but be aware that following a disaster, there are often many rumors and scam artists who attempt to take advantage of survivors.
When applying for disaster relief:
Watch for and report fraud by calling FEMA at 1-866-223-0814
Ask FEMA reps to show you a photo ID badge
Do NOT pay an application fee
Keep your FEMA registration number and information safe
Find more updates here.
Disaster relief is a public benefit program that does not trigger public charge and is safe to use. If you are a non-citizen eligible for disaster relief, you can apply for FEMA assistance without risk to your immigration status.
Before you start your FEMA application, have the following ready, along with a pen and paper:
- Social Security Number – You, another adult, or a minor child member in your household must have a Social Security number and you or they must be a U.S. citizen, non-citizen national, or a qualified non-citizen.
- Insurance Information – If insured, describe the type(s) of insurance coverage you have. This could include coverage under policies such as homeowners, flood, automobile, or mobile home insurance.
- Damage Information – Describe the damage caused by the disaster (the type of disaster and the type of home or vehicle that was damaged).
- Financial Information – Provide your total annual household income, before taxes, at the time of the disaster.
- Contact Information – Provide the address and phone number of the property that was damaged, along with an address and phone number you can be reached at currently. (Mail service for customers of Lahaina Main Post Office and Lahaina Downtown Post Office will be temporarily relocated to the Wailuku Post Office.)
- Direct Deposit Information (optional) – If approved, funds can be directly deposited into a bank account. Provide the bank name, type of account, routing number, and account number.
Small Business Administration (SBA) Loans
Small Business Administration (SBA) loans may also be available to businesses to repair or replace disaster-damaged property, inventory, and supplies or meet their necessary financial obligations. Disaster loans help restore businesses to pre-disaster conditions, and, in some cases, protect from future disasters. They cannot be used to expand or upgrade businesses and cannot exceed the verified uninsured disaster loss.
Homeowners and renters may also be eligible for SBA loans to repair or replace disaster-related damages to homes or personal property.
If you sustained physical damage to your business of any size, you may be eligible for up to $2 million in Business Physical Disaster Loans for the repair or replacement of real estate, inventories, machinery, equipment and all other physical losses.
If you are a homeowner or renter, FEMA may refer you to the SBA to apply for low-interest loans to replace or repair disaster-damaged real estate and personal property including automobiles.
The deadline to apply for SBA physical damage loans is October 10, 2023.
Small businesses, small agricultural businesses, and nonprofits that have not experienced physical damage but have sustained significant economic losses as a result of the fires, may be eligible for up to $2 million in Economic Injury Disaster Loans (EIDL) to meet necessary financial obligations. The deadline to apply for EIDL is May 10, 2024.
To apply for any SBA loan, you must first register with FEMA at www.DisasterAssistance.gov. After registering with FEMA, businesses and homeowners who would like to apply for SBA loans should visit DisasterLoanAssistance.sba.gov.