Hawaii Short Sale Listings

A Hawaii short sale typically is executed to prevent a home forclosure in Hawaii.  Often a bank will allow a short sale if they believe that it will result in a smaller financial loss than foreclosing. For the home owner, advantages include avoidance of a foreclosure on their credit history and partial control of the monetary deficiency.  A Hawaii short sale is typically faster and less expensive than a foreclosure. 

In short, an Hawaiian short sales are  nothing more than negotiating with lien holders a payoff for less than what they are owed, or rather a sale of a debt, generally on a piece of real estate, short of the full debt amount.  It does not extinguish the remaining balance unless settlement is clearly indicated on the acceptance of offer.

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See also
Mortgage Forgiveness Debt Relief Act of 2007 - U. S. legislation affecting short sales.
Homeowners pay to sell - Hawaii Star Bulletin Oahu Short Sale Activity.
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