HI HB467

Prohibits mortgagees from bundling multiple foreclosed properties together for sale at public auction during nonjudicial foreclosure proceedings; each property must be bid on separately unless the deed or mortgage requires otherwise

Creates a 45-day window after public sale for "eligible bidders" to submit a subsequent bid matching or exceeding the highest bid, which would override the original winning bidder

Defines eligible bidders as current tenants of the property, prospective owner-occupants who will live in the home for at least one year, affordable housing nonprofits, community land trusts, or state/county government agencies

Requires prospective owner-occupants to submit an affidavit confirming they will occupy the property within 60 days, maintain residency for one year, and are not acting as an agent for another buyer

Original successful bidders who lose to an eligible bidder's subsequent bid will receive a refund of their 10% nonrefundable downpayment; effective date set for July 1, 3000