According to the state of Hawaii Judiciary, only 58 new foreclosure cases were filed across the state in August 2012. This was a massive decline from the 321 new foreclosure cases filed during the same month a year ago. Experts believe that this decrease is a direct response to the new law which was enacted in June requiring lenders to be more active in working with homeowners who were behind on their mortgage payments. However, experts also note that there will probably be a slight increase in case filings once lenders adapt to the new procedures.
Source: Honolulu Star Advertiser, 9-25-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
