Recommended changes to Hawaii’s mortgage foreclosure law — described by some as the nation’s “strongest” — have been approved by the Legislature.
House Bill 1875 passed final floor votes in the Hawaii House and Senate.
The bill amends the law Gov. Abercrombie signed off on last session, which aimed to protect owner-occupants by forcing lenders to meet face-to-face with homeowners before foreclosing on a property. It also imposed a temporary ban on all “new non-judicial foreclosure actions.”
The mortgage foreclosure task force that made recommendations for the original law was charged with doing a thorough review of the law and recommending ways to clarify it. The group’s recommendations (see page 15-16) were presented in HB 1875.
For a quick run-down of the news, see this Associated Press piece.
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