Previous Story
USDA RD offers housing loan moratorium to NMI homeowners
TIYAN, Guam—USDA Rural Development Hawaii State Director Chris Kanazawa recently announced that a moratorium of up to two years may be available to homeowners in the CNMI who have been affected by Typhoon Soudelor. To learn more about the moratorium program, call the Guam USDA Rural Development office at (671) 300-8562/65.
A moratorium allows USDA to suspend borrower payments for up to 24 months. USDA may consider a moratorium when an event is considered beyond the borrower’s control and the reason is temporary in nature. The devastating impact that Typhoon Soudelor had on the CNMI and on the livelihood of individuals is an event that warrants a moratorium.
“Our thoughts and prayers go out to the residents of Saipan and the CNMI during these very challenging times,” stated Kanazawa. “We want our homeowners to focus on recovering from this disaster and getting their lives back in order before they resume payments with USDA.”
Moratoriums may be offered to homeowners whose accounts were in good standing prior to Typhoon Soudelor. USDA Rural Development officials plan to visit Saipan this month to meet with homeowners to discuss moratorium and other available servicing actions. (USDA RD)
