HOUSE OF REPRESENTATIVES	H.B. NO.	894
TWENTY-SIXTH LEGISLATURE, 2011
STATE OF HAWAII

A BILL FOR AN ACT

relating to mortgage foreclosures.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  No mortgagee shall initiate or continue with a foreclosure proceeding under parts I or II of chapter 667, Hawaii Revised Statutes, beginning on the effective date of this Act and ending on the date that the federal government releases a final public report on any federal investigation into the securitization of mortgages.

     The governor shall issue a proclamation and publish a notice statewide announcing the release of the final public report.

     SECTION 2.  This Act shall take effect upon its approval.

INTRODUCED BY:

_____________________________

Report Title:

Mortgage Foreclosures

Description:

Places a moratorium on foreclosures pending a national investigation on securitization.

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.