We're only 2 days away from ringing in 2014. Can you believe an entire year has once again passed us by? Tempest fugit, indeed. How did the year shape up for you? As we get ready to watch the fireworks light up the Hawaiian skies in just over 48 hours, let's take a look back over the past 12 months and where we may be going from here. Improving Your Home Value Many residents in Hawaii have taken … [Read more...]
Foreclosure
Hawaii foreclosure, short sale and mortgage information
How to Avoid Mortgage Scams in Hawaii
It's a sad fact that of life that the more people find themselves in difficult situations, like foreclosure, the more people will inevitably try to scam or take advantage of them even further. This may be true more for real estate, housing and mortgages than for any other industry. There are plenty of stories of homeowners here in Hawaii who have been the subject of mortgage scams or other … [Read more...]
What is a BPO in a Short Sale?
If you're like many homeowners in Hawaii the past few years, you may have explored the idea of selling your house as a short sale. For the sake of discussion, a short sale is where your lender allows you sell your house for less than what you owe them (the bank takes a 'short' position on your debt). It allows you to get out from under a difficult mortgage and start fresh, while the bank avoids … [Read more...]
Why You Need to Start Your Short Sale NOW
Why NOW is the Time to MOVE on Your Short Sale Is the mortgage on your Hawaii property upside down or "underwater"? If you owe more than your property is worth and you can't keep up with the payments, a short sale may be your best way out. If you haven't qualified for a loan modification and can't reinstate the loan (make up the back payments or arrears), you don't have many options if you want … [Read more...]
What Is A Short Sale? Part 2
In the previous post "What is a short sale? Part 1", we discussed some basics of short sales, like why someone would pursue one and whether it's an option for everyone (it's not). Let's continue that train of thought and address some other questions here: What's Involved in a Short Sale? One unfortunate joke about short sales is that they almost always take a LOOOOONG time to complete, … [Read more...]
What Is A Short Sale? Part 1
With the prevalence of real estate news hitting the headlines about everyday for the past five years, many people have asked "What is a short sale?" Some of you might be very familiar with term (maybe too familiar), but there are plenty of people who don't understand the concept or phrase. After all, while it may seem like short sales have been a frequent topic of real estate discussions for some … [Read more...]
Governor Signs SB 651 Stopping Hawaii Foreclosures
On May 5, 2011, Hawaii Governor Neil Abercrombie enacted into law SB 651, effectively stopping all new non-judicial foreclosures throughout the state of Hawaii. Hailed by some as the strongest foreclosure law in America, this new legislation now gives Hawaii homeowners in preforeclosure the option of a face-to-face meeting with their foreclosing lender (want to sit across a desk from the Bank of … [Read more...]
Hawaii Foreclosure Moratorium Coming?
By now many people in Hawaii have heard of the upcoming 5-month foreclosure moratorium that passed the House and is headed for the Senate. The basic gist of it is that it will prevent illegal foreclosures from being processed. However, what many are failing to realize is that only a tiny fraction of the foreclosures that are hitting Hawaii (recently ranked #11 nationwide in foreclosure filings per … [Read more...]