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Hawaii
Judicial Foreclosure Available: Yes Non judicial Foreclosure Available: Yes Foreclosure in Hawaii takes one of two forms: (1) judicial
foreclosure by a lawsuit much like any other lawsuit or (2) sale under a
power of sale clause in the mortgage. Preferred Method: Judicial foreclosure is the preferred method in Hawaii.
Although trust deeds are available, they are not commonly used. Judicial Foreclosure In a judicial foreclosure, the Circuit court may assess
the amount due on a mortgage, without a jury, and render judgment for that
amount and an order of foreclosure on the mortgage. The actual sale of the
property will take place in the same way as normal execution sales. Non-judicial Foreclosure Preliminary Notices Advertising Out-of-court foreclosures must be published, in English
once per week for three consecutive weeks. The last publication must be run
no less that 14 days before the sale date. Mailing Mortgage creditors having a mortgaged lien against the
property that another mortgage creditor intends to foreclose on under a power
of sale clause may, if a written request is given to the foreclosing mortgage
creditor, receive notice of the lender’s intent to foreclose. The foreclosing
lender must mail the notice to the other mortgage creditors at least seven
days prior to the date of the sale. Sale The highest bidder at the foreclosure sale buys the
property. Post-Sale Matters A buyer at the foreclosure sale holds title subject to the
existing liens. Any surplus from the sale shall be paid over to the owner of
the mortgaged property. Special Procedures A notice of any foreclosure on a condominium apartment
must be sent certified or registered mail to the association of the
condominium. This notice must be sent at the time the lender begins
foreclosure proceedings. This provision may not be waived. Redemption Redemption rights have been abolished in Hawaii. |
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