HONOLULU (AP) – An overhaul of Hawaii‘s foreclosure laws that includes a dispute resolution process has passed the Hawaii Legislature.
Lawmakers in the state House and Senate voted Tuesday to approve the bill and send it to Gov. Neil Abercrombie.
The dispute resolution process would allow homeowners to meet their lenders in face-to-face meetings overseen by a neutral third party.
The meetings could result in loan modifications that allow residents to keep their homes.
Residential owner-occupants also would have the option to convert their nonjudicial foreclosures to a process overseen by the courts.
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Online:
SB651: http://capitol.hawaii.gov/
(Copyright 2011 by The Associated Press. All Rights Reserved.)
See the original article at: KHON2 Developing Stories
