According to a report released by the state Judiciary, there were a total of 3,430 foreclosure cases in the state of Hawaii in 2013. This represented a 3 percent increase from the 3,326 cases that were filed a year prior. However, industry experts noted that the first few months of 2013 started off with a high number of cases and were greatly reduced towards the end of the year. They also noted that in 2012, the state law had changed, requiring an attorney to attest to the accuracy of all foreclosure documents filed by lenders in court, creating a dramatic decrease in filings for several months until lenders were able to adjust to the new law. A more meaningful picture of Hawaii's foreclosure trends should be seen by the end of 2014.
Source: Honolulu Star Advertiser, 2-5-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
