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Hawaii Foreclosure Law Summary
WHAT IS A SHORT SALE
Quick Facts
WHY USE SHORT SALE US
- Judicial Foreclosure Available: Yes
SUCCESS STORIES - Non-Judicial Foreclosure Available: Yes
- Primary Security Instruments: Deed of Trust, Mortgage
WHO QUALIFIES FOR A SHORT SALE
- Timeline: Typically 60 days
FAQs - Right of Redemption: None
- Deficiency Judgments Allowed: Yes
SHORT SALE NEWS
In Hawaii, lenders may foreclose on deeds of trusts or mortgages in defaul
VALUE YOUR HOME using either a judicial or non-judicial foreclosure process.
STATE FORCLOSURE LAWS
Judicial Foreclosure
CONTACT US The judicial process of foreclosure, which involves filing a lawsuit to obtain
court order to foreclose, is used when no power of sale is present in the
HIRE US mortgage or deed of trust. Generally, after the court declares a foreclosure
the property will be auctioned off to the highest bidder.
Non-Judicial Foreclosure
The non-judicial process of foreclosure is used when a power of sale claus
exists in a mortgage or deed of trust. A "power of sale" clause is the clause
a deed of trust or mortgage, in which the borrower pre-authorizes the sale
property to pay off the balance on a loan in the event of the their default. In
deeds of trust or mortgages where a power of sale exists, the power given
the lender to sell the property may be executed by the lender or their
representative, typically referred to as the trustee. Regulations for this type
foreclosure process are outlined below in the "Power of Sale Foreclosure
Guidelines".
Power of Sale Foreclosure Guidelines
If the deed of trust or mortgage contains a power of sale clause and
specifies the time, place and terms of sale, then the specified proced
must be followed. Otherwise, the non-judicial power of sale foreclosu
is carried out as follows:
1. The notice of intent to foreclose must be published once a we
for three (3) successive weeks, the last publication to be not le
than fourteen (14) days before the day of sale, in a newspape
having a general circulation in the county in which the mortga
property is located.

2. Copies of the notice must be mailed or delivered to the
mortgagor, the borrower, any prior or junior creditors, the state
director of taxation and any other person entitled to receive
notice. Additionally, the notice must be posted on the premise
not less than twenty-one (21) days before the day of sale.
Said notice must state: 1) The date, time, and place of the pub
sale; 2) The dates and times of the two (2) open houses of the
mortgaged property, or if there will not to be any open houses
the public notice shall so state; 3) The unpaid balance of the
moneys owed to the mortgagee under the mortgage agreeme
4) A description of the mortgaged property, including the addr
or description of the location of the mortgaged property, and th
tax map key number of the mortgaged property; 5) The name
the mortgagor and the borrower; 6) the name of the lender; 7)
The name of any prior or junior creditors having a recorded lie
on the mortgaged property before the recordation of the notice
default; 8) The name, the address in the State, and the teleph
number in the State of the person in the State conducting the
public sale; and 9) The terms and conditions of the public sale
Additional wording, as required by the State of Hawaii, may be
found here.
2. Up until three (3) days before the sale, the borrower may cure
the default and stop the sale by paying the lien debt, costs an
reasonable attorney's fees, unless otherwise agreed to betwe
the lender and the borrower.
3. The sale, which may be held no earlier than fourteen (14) day
after the last ad is published, is to be made at auction to the
highest bidder.
4. Any sale, in which notice has been given, may be postponed
from time to time by public announcement made by the lende
their representative.
There are no rights of redemption in Hawaii.
Privac
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