Bank of Hawaii frequently asked SHORT SALE & FORECLOSURE questions in Michigan

What are some Bank of Hawaii foreclosure alternatives?
I am upside down on my mortgage with Bank of Hawaii, what should I do?
What is a Bank of Hawaii short sale?
Bank of Hawaii denied my loan modification, what's next?
What is the Bank of Hawaii short sale process?
How do I choose a Bank of Hawaii short sale company?
How do I qualify for a short sale with Bank of Hawaii?
Where do I find a Bank of Hawaii short sale expert?
How do I hire a Bank of Hawaii short sale REALTOR?
How to find short sale agents who work with Bank of Hawaii?
What are the documents required for a Bank of Hawaii short sale?
How do I write a Bank of Hawaii hardship letter?

What are some Bank of Hawaii FORECLOSURE ALTERNATIVES?

If you are wanting to avoid foreclosure with Bank of Hawaii in Michigan, consider a short sale. Bank of Hawaii has alternatives to a foreclosure. With record high defaults (foreclosures), a great solution is a Bank of Hawaii approved short sales. There are a large number of people behind on their mortgage payments and upside down on their home that want to avoid foreclosure. Banks are allowing you to sell your home for less than what is owed. If you want to stop your home from going into foreclosure in Michigan, a short sale may be the right solution for you. We provide this service at absoletely no cost to you and have great working relationships with Bank of Hawaii to help you in your time of need.

I AM upside down on MY mortgage with Bank of Hawaii, WHAT SHOULD I DO?

If you upside down on your Bank of Hawaii mortgage, there are options to avoid foreclosure in Michigan. There are many options to either avoid a foreclosure or make your mortgage payment even more affordable. To avoid having a Bank of Hawaii foreclosure, one of the best options you might have would be performing what is called a short sale.

What is a Bank of Hawaii Short Sale?

Banks such as Bank of Hawaii are not wanting to absorb the cost of a foreclosure in Michigan. Foreclosures are very expensive and time consuming. Banks will typically work with home owners in hardship and allow you to perform a short sale. Our company specializes in helping homeowners working out a short sale solution with Bank of Hawaii.

Bank of Hawaii Denied MY Loan Modification, whats next?

Knowing exactly what a short sale is will help you have a better understanding. We work with Bank of Hawaii to negotiate a short sale for you. Our team of Short Sale Experts in Michigan have a great realationship with Bank of Hawaii and show that your home is worth much less than owed, and to avoid the hassels and expenses of foreclosing, we can negotiate a short sale.

What is the Bank of Hawaii short sale process?

• The lender acknowledges receipt of the file. (This can take 10 to 30 days.)
• A negotiator is assigned. (This can take 30 to 60 days.)
• A Brokers Price Option (BPO) is ordered. (This can take 10 to 15 days.)
• A second negotiator could be assigned. (This can take another 30 days.)
• The file is sent for review or to the PSA. (This can take 15 to 30 days.)
• The bank might request that all parties sign an Arm's-Length Affidavit.(Typically nortorized)
• The bank issues a short sale approval letter.
• Close the sale of your short sale

HOW TO CHOOSE A Bank of Hawaii Short Sale Company

When your loan modification is denied by Bank of Hawaii, you are an ideal canidate for getting the lender to approve you for a short sale. Lenders attempt to work with home owners to save their homes, but when you are denied a loan modification by Bank of Hawaii, they will allow you to short sale 99% of the time. Call us, we will give you other options.

How to Qualify for a Short Sale with Bank of Hawaii

There are many reasons a Bank of Hawaii will allow you to sell your home for less than owed. Any of these situations may qualify you for a short sale. (Note: these are most of them)

• Job loss or unemployment
• Relocation or involuntary job transfer
• Loss of income
• Decrease in working hours
• Medical expenses
• Major repairs on existing home
• Divorce
• Increased living expenses
• Death of borrower
• Short term or permanent disability
• Death of spouse or family member
• Business failure
• Vacant investment properties
• Bankruptcy

where do i FIND A Bank of Hawaii short sale expert

Bank of Hawaii foreclosure vs short sale in Michigan. It could be the right solution for you. The lender short sale process in Michigan can be a long and tedious task and negotiations could take months to complete. We strive to shorten this transaction timeline as a company by utilizing our relationships with Bank of Hawaii.

HOW TO HIRE a Bank of Hawaii short sale realtor?

Have a Professional Bank of Hawaii Short Sale Realtor in Michigan working for you. Our Short Sale Realtors are the top short sale Realtors to facilitate a effortless and smooth short sale. We are the Bank of Hawaii Short Sale Experts in Michigan. We have proven track record and can negotiate a short sale from beginning to end.

HOW TO FIND Short Sale agents WHO WORK WITH Bank of Hawaii in Michigan?

We don't just want you to work with any Real Estate Agent, we want you to work with a Short Sale Realtor that is a short sale specialist in Michigan. What is the difference between a short sale agent and a short sale Realtor who specialize in working with Bank of Hawaii? They both have to be licensed by the Department of Real Estate and follow the real estate laws. They both specialize in facilitating with short sale transactions and negotiations. The main difference is that a real estate agent is a REALTOR when he or she is a member of the National Association of Realtors. A Bank of Hawaii specialized Realtor in Michigan has to abide by a stricter Code of Ethics and Standards of Practice.

Hire a local Michigan Bank of Hawaii short sale expert to sell your home. Not all short sales are successful because every lender and situation is different. A short sale expert can examine your circumstances and be very knowledgeable of your options.

WHAT ARE THE documentS requireD for a Bank of Hawaii short sale in Michigan?

When qualifing for a Bank of Hawaii short sale, most banks will require the following documentation to approve your short sale in .

• Recent Mortgage Statement
• 2 most recent months of paycheck stubs (if employed)
• 2 most recent months bank statements
• 2 most recent years W2's
• 2 most recent years Tax Returns
• Property Tax Bill (If it is not included in the mortgage)
• Property Insurance Bill/ Statement (if it is not included in the mortgage)
• Homeowners Assoc. Bill (If you have a Homeowners Association)
• Sellers hardship letter
• Complete financial statement
• Letter of authorization (which lets your short sale agent speak to the bank)
• HUD-1 or Preliminary Net Sheet
• Comparative Market Analysis or list of recent comparable sales

How do i write a Bank of Hawaii hardship letter?

The Bank of Hawaii hardship letter only needs to be about a page long typed out explaining your situation and how your circumstances have changed. The lenders want to know why you are not able to make your mortgage payments. Contat us today for a break down on how to write a proper Bank of Hawaii hardship letter.

some history about Bank of Hawaii

The Bank of Hawaii Corporation (BOH) is a regional commercial bank headquartered in Honolulu, Hawaii. Charles Montague Cooke, his brother-in-law Joseph Ballard Atherton, and business partner Peter Cushman Jones founded Bank of Hawaii in 1893. It is Hawaii's second oldest bank and its largest locally owned bank within the state. In 1903, the bank opened its first branch nearly a decade later on Kauai. In 1922, it made its first acquisition when it acquired First Bank of Hilo founded in 1901, which had four branches. Then in 1930 it aquired Bank of Maui. Through joint ventures, acquisitions, and mergers, Bank of Hawaii went international and continued its expansion in the years. In 1971, BOH reorganized as a bank holding company called Hawaii Bancorporation, and in 1979 changed its name to Bancorp Hawaii. The next year, BOH opened branch in Tokyo. In 1997, Bancorp Hawaii changed its name to Pacific Century Financial Corporation (PCFC).