Speedy foreclosure bill passes House Civil Justice

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Speedy foreclosure bill passes House Civil Justice

Speedy foreclosure bill passes House Civil Justice

MAKE NO MISTAKE, PASSIDUMB-O IS NOT THE HOMEOWNERS FRIEND.


Orlando Sentinel-

TALLAHASSEE — An attempt to speed up foreclosures in Florida sparked outcry from both consumer advocates and bankers at a meeting in Tallahassee Thursday.

Lawmakers passed a measure that would attempt to speed up the foreclosure process, which now takes 853 days on average, by making a number of changes to the legal procedures governing the law.

The proposal, HB 87, would give lenders only one year – instead of the current five – to pursue a judgment against the homeowner if the sale of the foreclosed home fell short of the amount still owed on the loan. It would also require lenders to have all the required paperwork such as loan notes when they file a foreclosure complaint.

“We start with the complaint,” said state Rep. Kathleen Passidomo, R-Naples, the bill’s sponsor. “It’s got to be done right. We’re telling the lenders, ‘Don’t bother filing the complaint unless you’ve got it right.’ You’ve got all the cards there so the courts can look at it. “

[ORLANDO SENTINEL]

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