Hawaii foreclosure filings on the rise from December to January

The number of foreclosure filings rose 32% from December to January.  There were a total of 652 properties with new foreclosure filings in January.  This means that one out of very 797 housing units had a foreclosure filing in Hawaii.

A new law enacted making it much more challenging for a lending to go the non-judicial route has increased the likelihood of virtually all forecloses going through the judicial process.  The expectation is that if major changes are not made to the new law that the courts will become clogged with foreclosure proceedings.