Governor Scott Speeds Up Foreclosures with New Bill

by Isaac Benmergui, Esq on June 10, 2013

scales-houseAs foreclosures are down across the country, Gov. Rick Scott signed a bill Friday that will speed up the process in Florida. HB 87 shortens the time for homeowners to respond to foreclosure filings and gives more power in the process to community associations.

Sen. Jack Latvala and Rep. Kathleen Passidomo were co-sponsors of the bill, which also puts the burden on lenders to have their paperwork in order before starting a foreclosure. The bill also cuts the time period from five years to one that banks can seek a deficiency judgment against homeowners.

According to RealtyTrac Inc. the average time for a foreclosure to complete in Florida is 900 days, making it one of the longest time periods in the nation. Oftentimes, vacant homes are a result of that long timeline, which in the end hurt property values of its neighbors.

One attorney believes the new law will create an undue burden on judges, and that it may violate the due process rights of homeowners.

Defense lawyers are expected to challenge the law in court.

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.

 

 

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