Foreclosure Cases Increase in January 2013

According to a report released by the state Judiciary, there were a total of 364 new foreclosure cases initiated in the state court system during the month of January 2013. However, most industry experts are not surprised by this turn of events, as there have been a backlog of cases building due to new foreclosure laws that the Hawaii State Legislature passed in 2011 and 2012. The stricter laws required that attorneys would be responsible for affirming the accuracy of all case documents submitted by lenders, which brought the number of new cases filed to a trickle. However, now that lenders and their attorneys have become used to this change, they are beginning to quickly process the backlog in the judicial foreclosure system.

Source: State Judiciary

January 2013 – 364 foreclosure cases
December 2012 – 341 foreclosure cases
November 2012 – 327 foreclosure cases
October 2012 – 196 foreclosure cases
September 2012 – 58 foreclosure cases
August 2012 – 59 foreclosure cases
July 2012 – 75 foreclosure cases
June 2012 – 458 foreclosure cases
May 2012 – 397 foreclosure cases
April 2012 – 382 foreclosure cases
March 2012 – 404 foreclosure cases
February 2012 – 345 foreclosure cases
January 2012 – 285 foreclosure cases

Source: Honolulu Star Advertiser, 2-26-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
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