Bill Text: HI HB2132 | 2010 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Mortgages; Foreclosure; Mediation

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Enrolled - Dead) 2010-04-12 - (S) Received notice of appointment of House conferees (Hse. Com. No. 558). [HB2132 Detail]

Download: Hawaii-2010-HB2132-Amended.html

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STAND. COM. REP. NO.  426-10

 

Honolulu, Hawaii

                , 2010

 

RE:   H.B. No. 2132

      H.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2010

State of Hawaii

 

Sir:

 

     Your Committees on Consumer Protection & Commerce and Judiciary, to which was referred H.B. No. 2132 entitled:

 

"A BILL FOR AN ACT RELATING TO MORTGAGE FORECLOSURES,"

 

beg leave to report as follows:

 

     The purpose of this bill is to strengthen protections for mortgage consumers by requiring lenders, 45 days prior to initiating foreclosure proceedings, to mail to their mortgagor a notice of default advising the mortgagor of the availability of counseling through federal Department of Housing and Urban Development (HUD) approved counseling agencies, and the toll-free telephone number and website address for information on no-cost mortgage counseling services approved by HUD.

 

     The Legal Aid Society of Hawai'i and ILWU Local 142 supported this bill.  Hawaii Bankers Association and Hawaii Credit Union League opposed the bill.  The Department of Commerce and Consumer Affairs commented on the measure.

 

     Your Committees find that many homeowners facing foreclosure are unaware of their options, or of where they might go for information and assistance.  Providing a homeowner with access to this information in advance of foreclosure proceedings will give the homeowner a better chance of avoiding foreclosure and the loss of their home.

 

     Your Committees have amended this bill to encourage further discussion by changing its effective date to January 1, 2050.

 

     As affirmed by the records of votes of the members of your Committees on Consumer Protection & Commerce and Judiciary that are attached to this report, your Committees are in accord with the intent and purpose of H.B. No. 2132, as amended herein, and recommend that it pass Second Reading in the form attached hereto as H.B. No. 2132, H.D. 1, and be placed on the calendar for Third Reading.

 

Respectfully submitted on behalf of the members of the Committees on Consumer Protection & Commerce and Judiciary,

 

 

____________________________ JON RIKI KARAMATSU, Chair		____________________________ ROBERT N. HERKES, Chair