HB2020 Summary

• Repeals Part I of Chapter 667, HRS (foreclosure by action and traditional power of sale foreclosure), consolidating all nonjudicial foreclosures under Part II

• Removes the thirty-day deadline for nonjudicial power of sale foreclosures and replaces it with timeline provisions tied to judicial foreclosure procedures (36 or 60 days after court order, or upon recording of conveyance, whichever is first)

• Amends condominium association liability provisions (Sections 514A-90 and 514B-146) to align with the new foreclosure timeline, removing references to the old Part I procedures

• Eliminates the moratorium on nonjudicial foreclosures and repeals prior Act 48 provisions by removing obsolete statutory references throughout Chapter 667

• Maintains owner-occupant protections including the right to convert nonjudicial foreclosures to judicial proceedings, mortgage foreclosure dispute resolution requirements, and filing fee limitations for conversion petitions