Terms Used In Hawaii Revised Statutes > Chapter 667 > Part V - Mortgage Foreclosure Dispute Resolution

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Approved budget and credit counselor: means a Hawaii-based budget and credit counseling agency that has received approval from a United States trustee or bankruptcy administrator to provide instructional courses concerning personal financial management pursuant to title 11 United States Code § 111. See Hawaii Revised Statutes 667-1
• Approved housing counselor: means a Hawaii-based housing counseling agency that has received approval from the United States Department of Housing and Urban Development to provide housing counseling services pursuant to section 106 (a) (2) of the Housing and Urban Development Act of 1968, title 12 United States Code § 1701x, as the agency appears on the United States Department of Housing and Urban Development website. See Hawaii Revised Statutes 667-1
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Department: means the department of commerce and consumer affairs. See Hawaii Revised Statutes 667-1
• Dispute resolution: means a facilitated negotiation under part V between a mortgagor and mortgagee for the purpose of reaching an agreement for mortgage loan modification or other agreement in an attempt to avoid foreclosure or to mitigate damages if foreclosure is unavoidable. See Hawaii Revised Statutes 667-1
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Foreclosure notice: means notice of default and intention to foreclose prepared pursuant to section 667-22. See Hawaii Revised Statutes 667-1
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Mailed: means to be sent by first class mail, postage prepaid, unless otherwise expressly directed in this chapter. See Hawaii Revised Statutes 667-1
• Mortgage: means a mortgage, security agreement, or other document under which property is mortgaged, encumbered, pledged, or otherwise rendered subject to a lien for the purpose of securing the payment of money or the performance of an obligation. See Hawaii Revised Statutes 667-1
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgagee: means the current holder of record of the mortgagee's or the lender's interest under the mortgage or the current mortgagee's or lender's duly authorized agent. See Hawaii Revised Statutes 667-1
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Mortgagor: means the mortgagor or borrower named in the mortgage and, unless the context otherwise indicates, includes the current owner of record of the mortgaged property whose interest is subject to the mortgage. See Hawaii Revised Statutes 667-1
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Neutral: means a person who is a dispute resolution specialist assigned to facilitate the dispute resolution process required by part V. See Hawaii Revised Statutes 667-1
• Nonjudicial foreclosure: means foreclosure under power of sale. See Hawaii Revised Statutes 667-1
• Oversight: Committee review of the activities of a Federal agency or program.
• Owner-occupant: means a person, at the time that a notice of default and intention to foreclose is served on the mortgagor under the power of sale:

  (1) Who owns an interest in the residential property, and the interest is encumbered by the mortgage being foreclosed; and

  (2) For whom the residential property is and has been the person's primary residence for a continuous period of not less than two hundred days immediately preceding the date on which the notice is served. See Hawaii Revised Statutes 667-1

• power of sale foreclosure: means a nonjudicial foreclosure when:

  (1) The mortgage contains, authorizes, permits, or provides for a power of sale, a power of sale foreclosure, a power of sale remedy, or a nonjudicial foreclosure; or

  (2) For the purposes of part VI, an association enforces its claim of an association lien, regardless of whether the association documents provide for a power of sale, a power of sale foreclosure, a power of sale remedy, or a nonjudicial foreclosure. See Hawaii Revised Statutes 667-1

• Property: means property (real, personal, or mixed), an interest in property (including fee simple, leasehold, life estate, reversionary interest, and any other estate under applicable law), or other interests that can be subject to the lien of a mortgage. See Hawaii Revised Statutes 667-1
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Record: means to record or file a document in the office of the assistant registrar of the land court under chapter 501 or to record a document in the bureau of conveyances under chapter 502, or both, as applicable. See Hawaii Revised Statutes 667-1
• Residential property: means real property that is improved and used for residential purposes. See Hawaii Revised Statutes 667-1
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Subpoena duces tecum: A command to a witness to produce documents.