Florida Foreclosure Process – Going Against the Grain

Regular readers of our blog will recall the outcry from consumer advocates against the recent changes to the Florida foreclosure process, the pre-foreclosure process, and the Florida foreclosure timeline.  House Bill 587 gave banks and HOAs the opportunity to speed up the Florida foreclosure process.  We have pointed out the complete lack of empirical evidence behind claims that blindly speeding up the foreclosure process in Florida will somehow magically fix the economy or the housing market.

In fact, research done by our attorney Dustin Zacks, published in the Loyola Law Review, points out that most states are pushing in the other direction.  In fact, in response to the crisis, more than 20 states enacted pro-homeowner legislation.  In this respect, Florida has inexplicably gone against the grain.

Of particular interest to our readers might be the recent changes enacted in Minnesota.  In particular, the new laws require banks to offer any programs homeowners might be eligible for, and provides the judicial empowerment necessary to enforce the lack of bank cooperation.  Too many times we have seen banks and their attorneys stall out the loan modification process while pursuing a final foreclosure judgment.  And too many times, we have seen cases where a previous homeowner’s attorney was not diligent enough in working towards settlement.  The Minnesota laws, however, allow homeowners to ask the court to stay proceedings if a bank fails to comply, giving crucial support for helping keep families in their homes.

As always, we question whether Florida legislators and court administrators are truly concerned with preventing unnecessary or avoidable foreclosures, or whether they are just desperate – despite the lack of empirical support – to clear court case backlogs.  We invite you to call us today so we can discuss your settlement options, before it is too late.