Hawaii Foreclosures Rising, Officials Searching for Solutions
May 16th, 2008 by 
admin
While Hawaii foreclosures haven’t been among the worst in the country, April of 2008 showed a 218% increase over the totals of foreclosure in April of 2007, and officials are expecting the foreclosure inventory in the state to get worse as the year goes on.
Falling home values and the rising cost of fuel and food have been blamed for a significant number of the foreclosures, as homeowners are finding it difficult to keep up with mortgage payments as the economy is getting more and more sluggish.
Currently, Hawaii foreclosures have led to the state being ranked 36th among states with the worst rates of foreclosure, which works out to roughly 1 in every 2,381 homes.
More alarming however is the fact that foreclosures rose by 75% from March to April, indicating that things could get progressively worse quickly unless help is handed out to homeowners facing foreclosure. Officials are working on finding ways to get homeowners more foreclosure assistance and counseling so that they can avoid a market fallout as has happened in other states.
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May 20th, 2008 at 12:17 am
[...] Hawaii Foreclosures Rising, Officials Searching for Solutions While Hawaii foreclosures haven’t been among the worst in the country, April of 2008 showed a 218% increase over the totals of foreclosure in April of 2007, and officials are expecting the foreclosure inventory in the state to get worse as the year goes on. [...]