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Foreclosure in Hawaii : Real Estate Advice

  • All78
  • Local Info3
  • Home Buying38
  • Home Selling10
  • Market Conditions7

Activity 43
Sun Mar 31, 2013
Frank Diaz answered:
Aloha Matt,

Send details to frank@hawaiihome.biz
0 votes 1 answer Share Flag
Fri Sep 28, 2012
Jilly Goldman answered:
This is not on Maui so I am so sorry I cannot help with this issue. Another agent in our office, Ron Wilson, was a Broker there for 10 years and he can help you. Our office # is 808-875-9921. ... more
0 votes 3 answers Share Flag
Sun Sep 9, 2012
Terri Vellios answered:
This is a movement that is on going. My understanding is that people are marching to congress and want the Banks to work more closely at a resolution to allow people to stay in their homes. Such as modifying the loan terms, rolling back house mortgage to current values, and other measures, instead of going directly to foreclosure. No it doesn't mean that people can stop making their payments. They are to be responsible. Responsible doesn't mean taking advantage of a bad situation.

Our housing inventory in California is at its very lowest and the Bank Owned and Short Sale properties have dropped significantly. Banks are acting appropriately by not flooding the market with those homes as they did when our values dropped due to the high inventory of distressed properties. So with that, I expect our inventory to be reasonable.

Why do you ask?
... more
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Sun Aug 26, 2012
James L. Dahlberg answered:
Aloha Ed, that is not true. Please call me at 808-885-6651 or email me at kamuelatravel@msn.com your phone number, mahalo(thank you). Aloha, Jim Dahlberg, Realtor.
0 votes 5 answers Share Flag
Sat Jul 21, 2012
eddiesouza2003 asked:
0 votes 0 Answers Share Flag
Mon May 4, 2015
Tim Davis answered:
Not too sure. Since they are bank owned, I would start there and see to whom they would refer you.
0 votes 5 answers Share Flag
Mon May 21, 2012
Kate Braden answered:
The online property tax information can be quite out of date, especially if the bank who foreclosed on you hasn't filed the final paperwork. You can submit a form to the tax office or have a title company run an up to date title report, but unless the bank improperly foreclosed, or it's affecting what you are trying to do credit wise, it may not be worth the money to clear the title. ... more
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Fri Nov 18, 2011
Ron Thomas answered:
It sounds like you are trying to do this complicated deal without a Buyer's Agent and without a Loan Officer:
Either that, or, no one is helping you; which is it?

If you are between a rock and hard place; it sounds like you have only one choice:
You need to Counter that you need up to 6 months to close with an explanation, weekly updates and however long Homepath says until the Loan Contingency can be released: There do not seem to be any other choices.
If they say NO, then you are probably better off losing it now.

Good luck and may God Bless
... more
0 votes 5 answers Share Flag
Tue Jan 7, 2014
Michael Emery answered:
If you are saying you are letting your investment property go into foreclosure, as long as you are the owner of the property you are the recipient of any rental income regardless of whether or not you are making payments to your lender.

Once the foreclosure goes into effect and the bank takes possession, rent would be paid to the bank as you would no longer be the legal owner of the property. Since Hawaii does not have a right of redemption period, you would no longer own the property on the day of the foreclosure /sheriffs sale.
... more
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Tue Apr 26, 2011
David Cooper answered:
As long as seller didn't sign your offer as accepted, out of luck. Short sales are the black hole of real estate.
Nothing makes sense


David Cooper Las Vegaqs Foreclosure Investor In Bank Owned REOs with Cash Flow. email or call for FREE
daily LIST +1-7024997037 not a real estate investor
... more
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Mon Jul 15, 2013
Anna M Brocco answered:
In order to best protect yourself and any other assets you may have, it's in your best interest to consult with your attorney--if you bankruptcy attorney cannot help you, consider consulting with one that specializes in real estate. ... more
0 votes 7 answers Share Flag
Mon Jan 24, 2011
Scott Godzyk answered:
HOA dues do not get wiped out in most bankruptcies, they stay with the property. You need to ask your attorney but if you included the hoa in your filing, they may or may not be able to collect it from you but will be able to collect it from teh eventuial owner of teh condo.

At this point you should list it with an agent who is expereinced in short sales, they can include the mortgage and the condo fees in your short sale, it will be better for your rcredit in the long run to avoid the foreclsoure.

Please see my blog for tips selling your property as a short sale
... more
0 votes 6 answers Share Flag
Mon Nov 1, 2010
Big Rock Investments answered:
Possibly. You should read your HOA docs. Most likely they will place a lien on the property instead that has to be paid off before title can be passed. If the lien is not satisfied by a certain date, the HOA will seek a judgment against the owner. ... more
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Fri Jan 21, 2011
Scott Miller answered:
Hi Honugirl. The HOA will try to get them paid by either the bank that's foreclosing....OR, the new buyer. The HOAs need the money to pay day-to-day bills such as landscaping, common electric/insurance, pool, repairs/painting exteriors.

This has become a nightmare issue down here in Florida. The HOAs are being extremely aggressive in filing liens, lawsuits and foreclosures against homeowners for back maintenance fees.

GOOD LUCK.

Scott Miller, Realty Associates, Boca Raton, FL
... more
0 votes 3 answers Share Flag
Thu Oct 7, 2010
Frank Diaz answered:
Hi Honugirl,

What is the deficiency for?
What kind of bankruptcy?
Who is claiming the deficiency?
0 votes 4 answers Share Flag
Tue Aug 17, 2010
Frank Diaz answered:
Hi Jeanne,

Can you send a link or the text of the advertising?
Most likely it means "Sale Agreement."

Aloha,
Frank
0 votes 1 answer Share Flag
Fri Aug 13, 2010
Earl Boyer answered:
The best answer is possibly. Some states allow a lender to pursue a Deficiency Judgment, the lender sues for the difference between what is owed and the amount they receive in the sale. It can also depend on whether the loan being foreclosed was used for the initial purchase of it it was a refinance different rules may apply. The same goes for the way the IRS will treat the deficiency. if debt is forgiven it may be treated as income.

Check your mortgage documents, there should be a section that deals with Recourse. it should give you an idea of what the lender can pursue in your state. If you have been foreclosed on or are in the process check the documents to see if the lender is entitled to a deficiency judgment or are they willing to waive it. if the foreclosure hasn't taken place yet negotiate with them.

I am not an attorney or an accountant. MOST IMPORTANT get legal and tax advise from the appropriate professionals.
... more
0 votes 1 answer Share Flag
Thu Aug 12, 2010
Frank Diaz answered:
Hi Honugirl,

No one really has to pay them (to a certain point), since they have to paid to transfer title. Normally the impound account, or escrow that was built up pays them. The county and and property taxes will be paid first. The lender (or whomever owns it at the time), should make sure that it is not foreclosed on due to the taxes being delinquent. After the taxes are paid, then the mortgage, HOA (Homeowner's Association) and so on will get paid.

"taxes are in the first lien position, the tax foreclosure extinguishes all other encumbrances including but not limited to Deeds of Trust, mortgages, contracts, liens, judgments and any similar items."
See http://www.kingcounty.gov/operations/Finance/Treasury/Forecl…

Aloha,
Frank
... more
0 votes 1 answer Share Flag
Tue Jun 29, 2010
Frank Diaz answered:
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