Hawai‘i foreclosures decline 66% during June

HONOLULU — Foreclosures in Hawai‘i declined last month to the lowest amount since January 2009.

The Honolulu Star-Advertiser on Thursday reported data from real estate research firm RealtyTrac showing there were 344 foreclosure filings in June, down 66 percent from 1,000 in the same month last year.

There were 337 filings in January 2009.

June’s filings reflect the effects of Hawai‘i’s new foreclosure law curtailing activity against delinquent borrowers.

The law was intended to force lenders to make better efforts to negotiate loan modification plans through mediation.

New nonjudicial filings won’t be accepted until the mediation program is running, resulting in more cases being filed in Circuit Court.

Judicial foreclosures increased to 200 from 109 in the same month last year, according to the state Judiciary.

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