Hawaii Passes Law To Protect Elderly From One Form Of Home Equity Theft

The State of Hawaii has passed three new laws directed to the protection of its senior citizens from scams, according to the Hawaii Reporter. Included in those laws is HB1336 SD1 (Act 50), which is designed to punish unscrupulous brokers who convince elderly homeowners to sign mortgages that cause them to forfeit the equity in their property or lose their home by imposing fines of up to $10,000 for each violation. For more, see Governor Signs Bill to Protect Hawaii's Seniors from Financial Abuse and Fraud.

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