According to a report issued by the state Judiciary, there were only 78 new foreclosure suits that were filed statewide in May 2014. This is less than a fourth of the 346 new cases that were filed during the same month a year prior and even much lower than the 211 to 250 new cases that were filed during the first four months of this year. Experts are not sure why the rapid drop occurred, though the fact that Hawaii's economy is improving is helping homeowners maintain their financial health and stay out of mortgage trouble.
Source: Honolulu Star Advertiser, 7-12-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
