Hawaii SB1576 prohibits deficiency judgments against owner-occupant residential property owners after foreclosure.
Hawaii SB1576 amends the state's statutes to prohibit mortgagees or other persons from pursuing or obtaining a deficiency judgment against owner-occupant residential property owners after a nonjudicial foreclosure, unless the debt is secured by other collateral. The bill also modifies the statute of limitations for certain actions related to debt recovery. This Act takes effect upon approval.
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