Governor Signs Bill To Protect Homeowners

Honolulu – Governor Neil Abercrombie today signed into law a measure that will help homeowners who risk losing their homes. Senate Bill 651 implements a comprehensive strategy to reform the mortgage foreclosure process to protect homeowners who are in foreclosure or at risk of foreclosure.

The primary component established under this measure, the Mortgage Foreclosure Dispute Resolution Program, seeks to provide the owner-occupants of residential property in Hawai'i who are facing foreclosure the opportunity to meet face-to-face with the mortgagees to possibly resolve their differences.

The Department of Commerce and Consumer Affairs will administer the program, which will begin no later than October 1, 2011 and continue until September 30, 2014. This measure brings the number of bills enacted to 49.

Governor Abercrombie today also vetoed two measures today:

• Senate Bill 1416 would have exempted a new car owner from obtaining an inspection certificate for three years from the date of purchase. Governor Abercrombie believes the bill compromises road safety. New car owners currently have a two year exemption from the requirement for obtaining an inspection certificate.

• House Bill 382 would have granted the State Auditor explicit authority to inspect confidential documents and financial affairs – including private personal information in tax returns – of the Department of Taxation. The bill had a number of legal concerns.

For more information, please visit http://capitol.hawaii.gov.

Governor Abercrombie has until July 12, 2011 to sign into law all measures that are passed out of the Hawai'i Senate and the House of Representatives.

Photos of today's bill signing can be viewed here: http://www.flickr.com/photos/neilabercrombie/sets/72157626532968547/

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