Foreclosure filings plummet to lowest since June 2011

By Andrew Gomes

POSTED: 01:30 a.m. HST, May 17, 2012

~~<p>The number of foreclosure filings in Hawaii sank in April to its lowest for any month since a controversial overhaul of a state law governing residential foreclosures took effect last May, according to a report released Wednesday by real estate research firm RealtyTrac.</p>
<p>There were 314 filings last month. That was the fewest since 344 in June, which was the first full month under the new law that severely constrained the number of cases being filed. The filings decreased because lenders were fearful of what they viewed as unjust penalties for even the most insignificant violation of the law.</p>
~~

The number of foreclosure filings in Hawaii sank in April to its lowest for any month since a controversial overhaul of a state law governing residential foreclosures took effect last May, according to a report released Wednesday by real estate research firm RealtyTrac.

There were 314 filings last month. That was the fewest since 344 in June, which was the first full month under the new law that severely constrained the number of cases being filed. The filings decreased because lenders were fearful of what they viewed as unjust penalties for even the most insignificant violation of the law. Login for more...