Terms Used In Hawaii Revised Statutes 667-22

• Borrower: means the borrower, maker, cosigner, or guarantor under a mortgage agreement. See Hawaii Revised Statutes 667-1
• county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
• Department: means the department of commerce and consumer affairs. See Hawaii Revised Statutes 667-1
• Director: means the director 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
• 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}
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• 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: The written agreement pledging property to a creditor as collateral for a loan.
• 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 agreement: includes the mortgage, the note or debt document, or any document amending any of the foregoing. See Hawaii Revised Statutes 667-1
• Mortgaged property: means the property that is subject to the lien of the mortgage. See Hawaii Revised Statutes 667-1
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• 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
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives 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
• 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