Friday, September 23, 2011

Should Florida remove the court system from the foreclosure process?

That is exactly what Governor Scott is proposing as a way to move these properties into the system and speed up a housing recovery. At this time 30 other states do not involve the courts during a foreclosure process including California where a foreclosure takes on average 30% less time than here in Florida. In addition Florida already has the second highest foreclosure rate in the country. The average time in Florida to complete the foreclosure process is 638 days! In case you haven't heard in some instances banks are so fed up with how long it takes to foreclose that they are paying delinquent homeowners to transfer the property rights back to them. If they sign the property back they receive a check from the lender. What do you think? Should Florida remove the court systems from the foreclosure process?

http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=265244

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