Lenders screw Pahoa

[Kahunascott]

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Originally posted by Wao nahele kane

I fully agree with protecting investors moneys but isn't that what insurance is for?
They already have financing on many properties in the area, by no-longer offering it, they are indeed putting the investors at risk via the existing investments by simply reducing the financing opportunities. So they are putting the existing investments in immediate jeopardy for a possible house or two that might slip through without lava insurance and may or may not get hit by lava? It makes no sense. Where’s the foundation in the position; I see nothing but the foundational protections being removed.

Let’s not forget that Hawaii has the lowest declaration of natural disasters of all U.S. states.

Let’s get to the real issue they are looking at. It has everything to do with Job security/stability within the region and nothing else. The LZ1 and LZ2 argument is just targeting a given working class in the area. They are simply saying they won’t lend to people who buy the less expensive houses because they are (in the minds of the lenders) not fiscally stable people in general. Since they cannot come right out and use that reason, they are grasping at a baseless position and blaming Mother Nature. Let’s see them pull that weak position in Miami Fl. with all the hurricanes guaranteed to hit in the next 5 years.



E ho'a'o no i pau kuhihewa.

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Last July the eastern rift zone opened and lava traveled east instead of the usual south direction.
The lava traveled about 6 of 16 miles toward Pahoa. If (when) it crosses Hwy 130 and cuts LZ 1& 2 off from the US of A as you put it, then what? Let me tell you: you have to evacuate before it crosses the road, (only one way out) you abandon your house and leave it for the looters and you have a worthless house and piece of land. Oh that's right you can get insurance for that too. Hmmm that might be one reason the financial institutions aren’t crazy about lending out here. They aren’t targeting the working class.

Let’s not forget that Hawaii has the lowest declaration of natural disasters of all U.S. states. I think I read that tid bit of info not too long ago in one of the many federal agency websites.
Your statement above needs to be defined. This may be the case in all of Hawaii but we aren’t talking about all of Hawaii now are we, no.
We are only talking about LZ 1&2 on the BI. I would like you to explain your statement to those who lost everything in Kapoho and Kalapana. The late 50’s and early 90’s both towns were gobbled up in fire and brimstone only 30 plus years apart. I’m not sure what brimstone is but I know its HOT. Oh, and lets not forget our friends in Royal Gardens.
It’s only a matter of time until we get the red stuff down here in Hawaiian Beaches. But us who live here don’t worry about it at all. Remember, tomorrows another day and we enjoy life.