Florida House Votes to Speed Up Foreclosures

by Isaac Benmergui, Esq on April 28, 2013

Courthouse columnsFlorida’s House took steps to speed up the foreclosure process in the state voting on a bill that would get properties back on the market sooner and hopefully stimulate the real estate market in the process.

Rep. Kathleen Passidomo, R-Naples, said her bill preserves the due-process rights for  homeowners who are underwater with their mortgages, and at the same time raises the inventory of available properties on the market.

Homeowners needn’t worry that the bill would bring back the robo-signing practices that plagued housing industry in the past few years. Banks must prove in detail that they own a mortgage or explain why they can’t prove ownership. Banks would also have a limited time to foreclose on homeowners for a deficiency judgment; the legislation would reduce the statute of limitations from five years to one year.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

Previous post:

Next post: