There are two options for foreclosures in Hawaii. One if as an non judicial settlement and the other is an in-court settlement. Almost all non judicial foreclosures take about six months, while an in-court settlement can take about eleven months.

Non judicial settlement for foreclosure is allowed in Hawaii. But the settlement must be according to the clause of sale described in the mortgage deal. This may also mean that the borrower will have to be notified by the lender if there is any default on the loan taken before the lender starts the foreclosure process.

An in-court settlement process is initiated when the lender files and application against the borrower for default in payment. The notice of the foreclosure is delivered to the borrower by the lender, or the noticed is published if the borrower cannot be contacted. The borrower gets 20 days to respond to the notice of the court. If the borrower fails to respond within this time, then the court rules the borrower in default and the lender is given the permission to schedule the sale for foreclosure. However, a notice of appeal ca be filed by the borrower with 30 days from the time the court declares them as defaulters.

If the borrower wants to stop the foreclosure sale, he/she is required to pay the total amount of default including any associated fees 3 days prior to the sale.

Notice for non judicial foreclosures sale should include the following information - date, time, location description of the foreclosure, the sales deed terms, and the names of both the lender and the borrower.

The notice also needs to be delivered or mailed to the borrower, while one copy of the notice has to be posted on the property going under the hammer, no less than 21 days before the sale date. The lender can also publish the sale notice in any local newspaper once every week for a total of three successive weeks. And the last notice should be published no less than 14 days before the sale is due. The foreclosure sale is an auction held so that the highest bidder can buy the property. If the sale/auction is rescheduled for any reason, the sale notices will have to republished and resent in keeping with the requirements of the law.

A commissioner is the person who is appointed by the court to oversee and conduct the sale of the property in case of in-court foreclosures. A notice of the sale is published by the commissioner in any local newspaper. The notice will include the date for the auction and open house dates if there are any. The sale is open for all. However, the winning bidder will have to pay at least 10% of the bid amount in either cash or through a cashier's check. Any person who bids the highest doesn't necessarily become the owner of the property unless the court approves of the bid as a fair price and confirms the sale. The bidding will continue until such a confirmation is received from the court.

In the State of Georgia, the borrower loses the right of redemption once the foreclosed property is sold.

If you need more information about Hawaii foreclosure laws, you should contact a foreclosure lawyer, or contact us so we can recommend one for you.