GHURA gets approved to begin providing mortgage relief for Island residents

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Guam Housing and Urban Renewal Authority (PNC file photo)

The Guam Housing and Urban Renewal Authority (GHURA) announces the approval by the U.S. Department of Housing and Urban Development (HUD) of Guam’s Mortgage Relief Program. This emergency relief is funded through the CARES Act to prevent, prepare for and respond to the COVID-19 pandemic.

The pandemic has brought normal life to a screeching halt on our island, prompting countless business closures and leaving thousands of Guamanians suddenly out of work.

These unforeseen conditions have placed families in a condition of uncertainty and jeopardized their financial stability, to include the possibility of even losing their home.

Through GHURA’s Community Planning and Development funds, the Guam Housing Corporation (GHC) was awarded $714,000 to provide mortgage relief to hundreds of home
owners on Guam.

GHC will administer and implement the COVID-19 Mortgage Relief Program.

This Program is available for low to moderate income mortgagors who were furloughed or
experienced a reduction in worker hours from COVID-19 related circumstances. The Program
aims to assist 200+ eligible mortgagors (families) with up to three months of mortgage
payments.

“We are elated to receive approval from federal authorities to proceed with helping dozens of
families with their mortgage payments. The Leon Guerrero/Tenorio Administration, through
GHURA and GHC, has been working on this Program for many months to help those who are in dire need,” said GHURA Executive Director Ray Topasna.

“I would like to thank GHURA for partnering with the GHC to help families in low to moderate
income levels keep their homes. This Program is not limited to GHURA or GHC mortgage
holders. It is intended for all who are income qualified and are adversely affected by the
pandemic,” said GHC President Alice Taijeron.

If you are having a difficult time paying your mortgage loan due to a job loss or reduction in
work hours from COVID-19 related circumstances, relief assistance may be available to you.

Please contact the Guam Housing Corporation at 647-4143.

(News Release from Guam Housing and Urban Renewal Authority)

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