Revision of foreclosure law sends new filings into free-fall

The slowdown — to just 75 cases in July — comes as lawyers figure out how to deal with the overhaul

By Andrew Gomes

POSTED: 01:30 a.m. HST, Aug 25, 2012

~~<p>An official count of foreclosures shows that the number of new cases filed statewide in July plummeted after enactment of the latest overhaul to Hawaii's foreclosure law.</p>
<p>The state Judiciary reported this week that 75 new cases were filed last month, down from a monthly average of 355 over the prior 12 months.</p>
<table width="189" height="539" align="right" class="infoboxright_table">
<tbody>
<tr>
<td><strong>NO PLACE TO CALL HOME</strong><br />
<em>New Hawaii foreclosure cases filed in state court, including the year-over-year percentage change:</em>
<div class="sports_agate">
<table width="177" height="364" cellspacing="2" cellpadding="1" border="0">
<tbody>
<tr valign="top" align="left">
<td><strong>2012</strong></td>
</tr>
<tr valign="top" align="left">
<td><strong>MONTH</strong></td>
<td><strong>TOTAL</strong></td>
<td><strong>CHANGE</strong></td>
</tr>
<tr valign="top" align="left">
<td>July</td>
<td>75</td>
<td>- 63%</td>
</tr>
<tr valign="top" align="left">
<td>June</td>
<td>458</td>
<td>119%</td>
</tr>
<tr valign="top" align="left">
<td>May</td>
<td>397</td>
<td>N/A</td>
</tr>
<tr valign="top" align="left">
<td>April</td>
<td>382</td>
<td>N/A</td>
</tr>
<tr valign="top" align="left">
<td>March</td>
<td>404</td>
<td>N/A</td>
</tr>
<tr valign="top" align="left">
<td>February</td>
<td>345</td>
<td>N/A</td>
</tr>
<tr valign="top" align="left">
<td>January</td>
<td>285</td>
<td>N/A</td>
</tr>
<tr valign="top" align="left">
<td><strong>2011</strong></td>
</tr>
<tr valign="top" align="left">
<td><strong>MONTH</strong></td>
<td><strong>TOTAL</strong></td>
<td><strong>CHANGE</strong></td>
</tr>
<tr valign="top" align="left">
<td>December</td>
<td>375</td>
<td>N/A</td>
</tr>
<tr valign="top" align="left">
<td>November</td>
<td>395</td>
<td>N/A</td>
</tr>
<tr valign="top" align="left">
<td>October</td>
<td>363</td>
<td>N/A</td>
</tr>
<tr valign="top" align="left">
<td>September</td>
<td>336</td>
<td>N/A</td>
</tr>
<tr valign="top" align="left">
<td>August</td>
<td>321</td>
<td>N/A</td>
</tr>
<tr valign="top" align="left">
<td>July</td>
<td>205</td>
<td>N/A</td>
</tr>
<tr valign="top" align="left">
<td>June</td>
<td>209</td>
<td>N/A</td>
</tr>
</tbody>
</table>
</div>
Note: Year-over-year changes before June are not comparable because prior to June 2011 most foreclosure cases were not filed in state court. Since June 2011 all foreclosure cases by mortgage lenders have been filed in state court because of a change to state law via Act 48.
~~

An official count of foreclosures shows that the number of new cases filed statewide in July plummeted after enactment of the latest overhaul to Hawaii's foreclosure law.

The state Judiciary reported this week that 75 new cases were filed last month, down from a monthly average of 355 over the prior 12 months. NO PLACE TO CALL HOME New Hawaii foreclosure cases filed in state court, including the year-over-year percentage change: 2012 MONTH TOTAL CHANGE July 75 - 63% June 458 119% May 397 N/A April 382 N/A March 404 N/A February 345 N/A January 285 N/A 2011 MONTH TOTAL CHANGE December 375 N/A November 395 N/A October 363 N/A September 336 N/A August 321 N/A July 205 N/A June 209 N/A Note: Year-over-year changes before June are not comparable because prior to June 2011 most foreclosure cases were not filed in state court. Since June 2011 all foreclosure cases by mortgage lenders have been filed in state court because of a change to state law via Act 48. Login for more...