Bill Text: HI SB2892 | 2010 | Regular Session | Introduced
Bill Title: Non-Judicial Foreclosure; Appeals
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2010-02-10 - (S) The committee on CPN deferred the measure. [SB2892 Detail]
Download: Hawaii-2010-SB2892-Introduced.html
|
THE SENATE |
S.B. NO. |
2892 |
|
TWENTY-FIFTH LEGISLATURE, 2010 |
|
|
|
STATE OF HAWAII |
|
|
|
|
|
|
|
|
||
|
|
||
A BILL FOR AN ACT
relating to FORECLOSURE.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that homeowners who lose their home through the non-judicial foreclosure process are disadvantaged because the sales price of the property is not supervised by the court.
The purpose of this Act is to allow homeowners who successfully challenge a sales price through non-judicial foreclosure procedures to have a court supervised sale.
SECTION 2. Section 667-35, Hawaii Revised Statutes, is amended to read as follows:
"[[]§667-35[]]
Appeal to circuit court. (a) The borrower, the mortgagor, and any
creditor having a recorded lien on the mortgaged property before the
recordation of the notice of default under section 667-23, shall have the right
to file an appeal in the circuit court where the mortgaged property is located
to contest the presumptions set forth in section 667-34, and the statements
contained in the affidavit required by section 667-32. No appeal shall be
filed later than thirty days after the recordation of the affidavit. Failure
to timely appeal shall result in the statements in the affidavit and the
presumptions set forth in section 667-34 becoming conclusive in accordance with
the terms of that section.
(b) If an appeal by the borrower or mortgagor is granted by the circuit court as a result of a determination by the court that the sales price for the mortgaged property is unreasonable, the foreclosure shall be conducted pursuant to section 667-1."
SECTION 3. This Act does not affect rights and duties that matured, penalties that were incurred, and proceedings that were begun before its effective date.
SECTION 4. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 5. This Act shall take effect upon its approval.
|
INTRODUCED BY: |
_____________________________ |
|
|
|
Report Title:
Non-Judicial Foreclosure; Appeals
Description:
Allows a homeowner to force a court supervised foreclosure if a non-judicial foreclosure is successfully appealed due to an unfair sales price.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
