Hawaii Foreclosures on the Rise

April 2nd, 2008 admin Posted in HAWAII NEWS |

Rate of foreclosure on Hawaii real estate lower than on the Mainland

Hawaii foreclosures are on the rise. Many victims of the subprime mortgage crash in Kapolei real estate and other areas of Hawaii are seeing problems due to resetting loan rates. However, even though Hawaii foreclosures are on the rise, the rate of foreclosure on Hawaii real estate is still lower than on the Mainland, reports the Honolulu Advertiser:

To be sure, Hawai’i home foreclosures pale in comparison with some Mainland markets where a flood of foreclosures have forced municipalities to cut public services because of lost property tax revenue. Hawai’i foreclosures also remain much lower than they were in the mid- to late-1990s when single-family home prices dropped nearly 20 percent.

This increase is leading to the real estate trend of foreclosure tours for those looking for Hawaii real estate opportunities.

If you are facing foreclosure on your Kapolei real estate, there are options. Project Lifeline is offered by the Federal Government to help those caughty up in the subrpime mortgage crash. Additionally, John Riggins has been working with his local contacts from 31 years in the real estate business to help homeowners find mortgage lenders willing to refinance their home loans.

For more information on Kapolei real estate, and for tips on avoiding foreclosure, contact John Riggins.

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