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Hawaii Ranks 15th in Lowest Foreclosure Rate |
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Written by Howard Dicus - hdicus@kgmb9.com
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May 14, 2008 07:55 PM |
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There is no question that foreclosure filings across America are on the increase but Hawaii has the 15th lowest foreclosure rate of any state, even after an increase in filings here. Realtytrac counts 210 foreclosure filings in Hawaii last month. It's nothing like California, where foreclosures have cut property tax payments to the point where one entire city, Vallejo, is bankrupt. Economists says Hawaii's extra filings don't stem from recent layoffs because foreclosure proceedings never move that fast. hawaii home buyers dislike adjustable rate mortgages the way mainlands dislike leaseholds, and that has helped. for that reason, local analysis think some of these filings are by mainlanders falling behind on payments for their investment homes in paradise. |
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Last Updated ( May 16, 2008 05:51 PM )
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