HB894 | Hawaii House Approves Five Month Moratorium on Foreclosures

“This bill is needed to stop mortgagees who want to rush into foreclosing on homes in Hawaii before appropriate legislation is enacted to deal with the mortgage foreclosure problem,” said Rep. Bob Herkes, chairman of the Committee on Consumer Protection & Commerce. “We don’t want to shut down the mortgage market, but I think we need a timeout.”

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Hawaii House approves moratorium on foreclosures

HONOLULU — The Hawaii House of Representative has passed a measure that would prohibit non-judicial home foreclosures for five months.

The House voted 50-1 Thursday to approve the bill, sending it to the Senate for additional consideration.

Democratic Rep. Bob Herkes said the legislation would provide a “time-out” that prevents predatory lenders from foreclosing on homeowners unjustly.

Foreclosures that are reviewed by the courts could proceed during the moratorium.

Republican Rep. Gil Riviere opposed the bill because he said it would hurt a mortgage lending industry that’s already having a hard time clearing home loans.

The bill is intended to allow homeowners to stay in their homes and work with their mortgage companies through mediation, loan modifications, negotiations or a forgiveness process.

Measure Title: RELATING TO MORTGAGE FORECLOSURES.
Report Title: Nonjudicial; Mortgage Foreclosures; Five-month moratorium
Description: Places a five month moratorium on nonjudicial foreclosures. (HB894 HD1)
Companion:
Package: None
Current Referral: CPC/JUD
Introducer(s): CARROLL, HANOHANO, Evans, Morikawa, Wooley

Date Status Text
1/24/2011 H Pending introduction.
1/26/2011 H Introduced and Pass First Reading.
1/26/2011 H Referred to CPC, JUD, referral sheet 2
1/28/2011 H Re-referred to CPC/JUD, referral sheet 3
1/28/2011 H Bill scheduled to be heard by CPC/JUD on Wednesday, 02-02-11 2:00PM in House conference room 325.
2/2/2011 H The committees on CPC recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 11 Ayes: Representative(s) Herkes, Yamane, Brower, Carroll, Keith-Agaran, McKelvey, B. Oshiro, Tsuji, Marumoto, Thielen; Ayes with reservations: Representative(s) Ching; Noes: none; and 5 Excused: Representative(s) Cabanilla, Ito, Luke, Morita, Souki.
2/2/2011 H The committees on JUD recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 11 Ayes: Representative(s) Keith-Agaran, Rhoads, Brower, Carroll, Herkes, McKelvey, B. Oshiro, Tsuji, Marumoto, Thielen; Ayes with reservations: Representative(s) Fontaine; Noes: none; and 5 Excused: Representative(s) Cabanilla, Ito, Luke, Morita, Souki.
2/8/2011 H Reported from CPC/JUD (Stand. Com. Rep. No. 127) as amended in HD 1, recommending passage on Second Reading and placement on the calendar for Third Reading.
2/8/2011 H Passed Second Reading as amended in HD 1; placed on the calendar for Third Reading with none voting no (0) and none excused (0).
2/10/2011 H Passed Third Reading with Representative(s) Ching, Fontaine, Johanson, Marumoto, Pine, Ward voting aye with reservations; Representative(s) Riviere voting no (1) and Representative(s) McKelvey excused (1). Transmitted to Senate.

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4closureFraud.org

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HB894 Nonjudicial; Mortgage Foreclosures; Five-Month Moratorium

Testimony on House Bill No. 894, Relating to Mortgage Foreclosures

 

Comments
5 Responses to “HB894 | Hawaii House Approves Five Month Moratorium on Foreclosures”
  1. abs says:

    I am glad that moratorium is approved, but it disturb me in regards to mediation. if you suspected that you are supporting a PONZI SCHEME, would you even continue to support it ? Despite the evidence of counterfeit TRANSFER OF ASSIGNMENT (that is rackeetering, money laundering) no prosecution. If someone get caught making a counterfeit dollars or money, the law will decide the future of that individual how long he or she will spend the time in jail, and mediation is out of question. What exactly are we trying to do here again? Did we just waste time and taxpayer money? The servicer got caught recording a fraudulent documents in order to steal your home, we make a special house bill to mediate with them. Do i understand this right?

  2. Marcy says:

    Originally this bill was a moratorium on foreclosures UNTIL the date that the federal government releases a final public report on any federal investigation into the securitization of mortgages.

    It was amended to 5 months with the intention of passing bills that set up a foreclosure mediation program.
    The 5 months would give some time to get the programs running and give relief to people so the banks would not rush to foreclose prior to having to enter the program.

  3. l vent says:

    Great News for the people of Hawaii, though I do not see how any SPECIFIC amount of time could be long enough to get to the bottom of this. What about the rest of the Country? The story is NO DIFFERENT any where else in AMERICA. THE ROBBERY AND PILLAGE OF AMERICA MUST BE STOPPED ACROSS THE ENTIRE NATION. WE HAVE ALL BEEN VICIMTIZED AND ROBBED ON A SCALE OF UNKNOWN PROPORTIONS. THERE MUST BE AN INDEFINITE NATIONWIDE MORATORIUM ON ALL FORECLOSURES, NOW. THE AMERICAN PEOPLE KNOW THE TRUTH. THE LIES AND THE COVER-UP MUST STOP NOW or else they will COMPLETELY DESTROY AMERICA FOR ETERNITY.

  4. Jade Brown says:

    ALOHA BATTLEMATES! THANK YOU FOR COVERING THIS VERY IMPORTANT NEWS! IT’S NEVER EASY TO DO BATTLE WITH A GIANT! IT IS NOT YET TIME TO REST!

    Today’s Update on new HI Foreclosure Legislation:

    The House bill HB894 HD1 which places a 5 month moratorium on non-judicial foreclosures did pass the house yesterday. Now it must cross-over and survive two readings in the Senate before it becomes law.

    The Senate bill SB651SD1 placing a moratorium on foreclosures, makes dispute resolution mandatory before foreclosure – must go before Senate Ways & Means for approval. If approved, it crosses over to the House and must survive two readings before it becomes law.

    There are several additional bills in both the House & Senate that include protective measures for Hawaii homeowners. I will keep watching their progress and update you as things develop.
    ..

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