You may have noticed that it has been 6 days since I posted a new foreclosure notice. I'm not slacking. I do check every single morning, but there simply haven't been any posted. I chat with commissioners often at the open houses and they all tell me they have more foreclosures coming, so keep watching. They'll be published soon and as soon as they are, I will post them here and add them to the calendar.
Pre-pandemic I would see only about 2 or 3 notices a week. There are many more notices coming out now, and yes it is pandemic related, but not in the way most people assume. These foreclosures that are being published and auctioned now are from before the pandemic. The courts put foreclosure auctions on hold due to gathering restrictions. Foreclosure court cases were still happening if it was not for pandemic-related non-payment, but those cases, and the others that had started pre-pandemic were not able to go to auction even after obtaining judgment. Now that gatherings are allowed again, commissioners are now allowed to move forward with the auctions provide they meet all the gathering rules. We have a backlog of auctions of about a year to get through.
It remains to be seen if we will see an upswing in actual foreclosures due to the pandemic. I am doubtful that we will see those here in Hawaii. Even if someone took forbearance or failed to pay their mortgage due to reduced income from the pandemic, their homes went up in value during the same period, so they would be much better off selling than allowing their home to go to foreclosure. I do not anticipate a huge influx of foreclosures due to the pandemic, just this backlog of auctions that were on hold.
If you want to quickly determine how old a case is, here is a post on how do do that: http://www.bigislandforeclosures.com/2021/10/how-old-is-this-foreclosure-anyway-and.html
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