Regarding foreclosure in Hawaii, which statement is most accurate?
Correct Answer
B) Both judicial and non-judicial (power of sale) foreclosure are permitted for mortgages and deeds of trust
Hawaii uses both mortgages and deeds of trust as security instruments, and HRS Chapter 667 permits both judicial foreclosure (through the courts) and non-judicial foreclosure (power of sale) for either instrument. Non-judicial foreclosure under HRS §667-5 et seq. allows lenders to foreclose without court involvement when the security instrument contains a power-of-sale clause.
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