Foreclosure cases moving like mud

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Foreclosure cases moving like mud

Foreclosure cases moving like mud

$4 million infusion of cash produces net gain of ONLY 435 cases cleared statewide.

 

Palm Beach Post-

Florida’s foreclosure courts have made almost no progress in clearing an overwhelming backlog of cases from their dockets despite a $4 million stipend awarded by lawmakers this year.

As of Oct. 31, there were 377,272 pending foreclosures in Florida’s 20 circuit courts, a net reduction of just 435 cases since the money became available in July, according to the state courts administrator.

Judges say new foreclosure filings have nearly outpaced the number of cases they’ve been able to close as banks work on clearing defaulted loans on hold since the robo-signing freezes and pending the National Mortgage settlement, which was finalized in March.

[PALM BEACH POST]

image: armyrotc.as.uky.edu

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