Foreclosures finally drop in Hawaii - Hawaii News Now - KGMB and KHNL

Foreclosures finally drop in Hawaii

HONOLULU (AP) - Hawaii has broken its streak of more than three years of rising real estate foreclosure filings. Irvine, Calif.-based RealtyTrac reports that there were 930 foreclosure actions statewide in July, a 6 percent decline from the 990 at the same time a year ago.

It was the first year-over-year drop for any month since May 2007, a string of 37 consecutive months.

This report comes after RealtyTrac said last month that foreclosures in Honolulu increased 72 percent in the first half of the year compared to the first six months of 2009.

July's foreclosure count was the lowest for any month since 872 filings in November.

The peak was 1,534 in December.

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