WHEN CAN FORECLOSURE START IN HAWAII?

If you find yourself at risk of a foreclosure on your home, you might feel helpless and alone. However, at Aloha Property Network we are here to help. We are on your side and will find solutions that help you either avoid or navigate foreclosure so you feel you have more control over your own destiny.

In Hawaii, you have 120 days of past due payments before your lender can start foreclosure. If you haven’t yet received notification, but are nearing this time, speak to us right away so we can help.

What to Expect

Once you miss a few mortgage payments, and before the lender starts foreclosure proceedings, there is what is called the “preforeclosure" period. During this time, the lender will provide information on how you can avoid foreclosure. You’ll most likely also start to see changes to your account within 10 to 15 days of your missed payments.

At this time you’ll receive a "breach letter" which is your signal to call us.

This is the time you can legally take action to protect your property and maintain ownership. However, it’s also the time the lender will perform an inspection of your home to confirm you live there and that the home is in good condition.

What Can You Do if Foreclosure is Probable?

Your best bet is to get enough cash to reinstate your loan. This basically is paying off all outstanding missed payments and includes both the principal and interest as well as any fees your lender might apply based on the terms of your mortgage. In Hawaii, you’ll most likely face what is called a judicial foreclosure. This allows you time to meet with your lender to try to set up some form of an agreement so you can avoid foreclosure.

What if I Can't Afford to Reinstate My Loan?

If you can’t afford to reinstate your loan, or you know that you wouldn’t be able to afford anything beyond covering the current missed payments, you could consider selling your home. By selling you can avoid losing your investment. However, it takes time to prepare your home for sale and you might not have enough time to do so. If your home is in ill repair this can make it even harder to sell.



As a result, you could run out of time and the lender will start the foreclosure process. In this case, we can help. We can conduct our own assessment of your property and make a fair offer based on the current condition of your home and the most recent local selling prices in your neighborhood. We pay cash for your home as is so you can pay the bank your outstanding payments, the balance of your mortgage and access the cash value of your home now.