DHHL Beneficiaries Suffering Economic Hardship Reminded Of Options

Posted on Oct 11, 2013 in Community News

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DHHL Beneficiaries Suffering Economic Hardship Reminded Of Options


KAPOLEI, HAWAI‘I — The Department of Hawaiian Home Lands (DHHL) continues to move forward with its loss mitigation effort to remind native Hawaiians suffering economic hardship of the options available to them. Through the assistance of the Office of the Attorney General and the Department of Commerce and Consumer Affairs, monies from the National Mortgage Settlement were made available to borrowers whose mortgage loans were made with the following banks:

As part of the settlement, drastic changes were enacted to provide relief in the form of loss mitigation. If you are a borrower whose mortgage loan is serviced by a lending institution and need relief, these five local agencies received funding from the settlement monies to offer free services:

These local agencies are funded by the National Mortgage Settlement monies to provide renter counseling, foreclosure prevention counseling, credit report counseling, and legal assistance (relating to predatory mortgage lending and illegal mortgage foreclosure) to anyone experiencing hardship. If you are a lessee facing economic hardship and your mortgage loan is with an external lender (i.e. Bank of Hawaii, Homestreet Bank, Wells Fargo, etc.), the time to act and secure help is BEFORE your mortgage loan defaults and is returned to DHHL.

For defaulted borrowers currently residing on homestead lands or delinquent lessees with outstanding loan obligations to DHHL, you are not forgotten. In the coming months, DHHL will be assessing every defaulted loan and delinquent lessee loan obligation to insure appropriate help and assistance is provided, where possible.

These programs are available to assist you in meeting your mortgage loan obligations. Contact one of these service providers for more information.