According to a report released by the state Judiciary, there were only 51 new foreclosue cases filed across the entire state in September 2012. This was an 85 percent decrease from the 336 cases filed in the same month a year prior. In fact, the last time that the foreclosure volume was this low was 2006, prior to the recession. However, experts note that the low foreclosure volume is a direct result of a recent overhaul in state law, and it is believed that once lenders adopt the new procedures there will be an increase in foreclosure filings.
Below is the number of foreclosure filings reported by the State Judiciary:
September 2012 – 51 filings
August 2012 – 58 filings
July 2012 – 75 filings
June 2012 – 458 filings
May 2012 – 397 filings
April 2012 – 382 filings
March 2012 – 404 filings
February 2012 – 345 filings
January 2012 – 285 filings
August 2012 – 58 filings
July 2012 – 75 filings
June 2012 – 458 filings
May 2012 – 397 filings
April 2012 – 382 filings
March 2012 – 404 filings
February 2012 – 345 filings
January 2012 – 285 filings
Source: Honolulu Star Advertiser, 10-30-2012, 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
