Hawaii HB467 aims to prevent foreclosure bundling and allows certain bidders 45 days to match or exceed winning bids.
Hawaii HB467 amends foreclosure laws to prohibit bundling properties for sale to a single buyer and mandates separate sales for each foreclosed home. It allows eligible bidders, including tenants, families, government entities, and nonprofits, 45 days to match or exceed the highest bid at a public sale. Eligible bidders include tenants, prospective owner-occupants, affordable housing nonprofits, community land trusts, and government agencies. The bill also requires a nonrefundable downpayment from successful bidders, which can be refunded if they lose to an eligible bidder.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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