According to a report issued by the state Judiciary, foreclosures decreased by 9 percent in September 2014 as compared to the same month a year prior. There were a total of 188 foreclosure lawsuits filed, which was an increase from the 131 that were filed in August and the 160 that were filed in July.
In 2012 there was an amendment to the state foreclosure law that required that attorneys must affirm in writing that they communicated with a representative of the lender pursuing foreclosure, and confirm the accuracy of allegations along with any supporting affidavits and notarizations in the lawsuit. Attorneys also must name lender representatives with whom they communicated and on what date. This amendment has brought the number of foreclosures down significantly, but experts believe that cases will increase once lenders have adjusted to this requirement.
Source: Honolulu Star Advertiser, 11-29-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
