Hawaii Real Estate Likely to be Hit Hard by Foreclosures
2 million foreclosures expected by 2009
Nationwide, 2 million foreclosures are expected by 2009, and Hawaii real estate is expected to get at least its fair share. With real estate prices already dropping on Oahu’s western side, now is the time for many to start thinking about what they will do when their mortgages reset and monthly payments go higher. John Riggins points this out about Hawaii real estate and foreclosures:
down have few choices.
Among those choices are (1) Credit Counseling; (2) Based upon their income and bills request the lender adjust the monthly payment down in order for them to afford the payment; (3) Request the lender lower the mortgage balance and pay the costs of the sale of the property which is better known as a short sale; and/or (4) File for bankruptcy.
For more on options for Hawaii real estate foreclosures, contact John Riggins.
Related Links
Avoid Hawaii Real Estate Foreclosures
Steps that can reduce your chance of foreclosure on Hawaii real estate
Find a Hawaii home
Hawaii community news and information
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