Updated January 7 2021.
Congress has enacted a number of financial relief initiatives to help Americans remain financially solvent during this public health emergency. Please see below for more information on loan forbearance, eviction moratoriums, and extended tax deadlines.
Direct Payments for Individuals and Families:
Congress recently approved a second round of direct payments to help individuals and families deal with COVID-19. Most payments will be distributed automatically, and individuals can check their payment status here. More information is also available here.
In response to the COVID-19 pandemic, Congress approved loan forbearance and related assistance for homeowners with federally-backed mortgages through the U.S. Department of Housing and Urban Development (HUD), the U.S. Department of Agriculture (USDA), the Federal Housing Administration (FHA), the U.S. Department of Veterans Affairs (VA), and Fannie Mae and Freddie Mac.
More information about available assistance can be found on the Consumer Financial Protection Bureau’s (CFPB) website here.
Federal student loan forbearance has been extended through January 2021. More information can be found on the U.S. Department of Education’s website here, and the CFPB’s website here.
On September 4, 2020, the Centers for Disease Control (CDC) issued an order to temporarily halt residential evictions for nonpayment of rent if the renter completes this declaration and meets certain qualifications. The order has been extended through January 31, 2021., For more information on this order, visit CFPB’s website here.
The CARES Act put in place protections for renters in federally-supported housing by putting in place a moratorium on evictions for up to 120 days beginning on March 27, 2020. In addition, landlords in federally-supported housing can seek loan forbearance in order to ease the burden of rent payments. Eviction moratoriums and loan forbearance protections end on various dates, based on the program. The website above also provides details on these protections and their expirations.
If you are a renter or homeowner with questions, the Legal Aid Society of Hawaii has produced a frequently asked questions (FAQ) website with answers to questions about the CARES Act’s provisions, as well as specific policies put in place by Hawaii State and local government. You can learn more about the Legal Aid Society of Hawaii and the services they provide to renters, homeowners, and consumers on their website here.
The State of Hawaii, Hawaii, Maui, and Kauai Counties, and the City and County of Honolulu have all established emergency assistance programs to provide cash aid. See the Legal Aid Society of Hawaii’s website for more information on programs in your county here.
Borrowers concerned about their ability to pay their loans are encouraged to contact their lenders during this time. More information can be found on the CFPB’s website here.