Florida Foreclosure Speed-Up Bill Dies as Session Ends
Written by Emil Fleysher | March 15, 2012 | Foreclosure
A controversial measure to speed up foreclosures was not passed as the lawmaker session ended. The proposal would have accelerated foreclosure proceedings on abandoned properties and made it easier for lenders to complete proceedings when both parties agreed to end the process. For consumers, the bill would have reduced the length of time lenders could go after a borrower following a foreclosure sale from five years to one year. Proponents said the change would have allowed homeowners to get on with their lives. However, other provisions were more lender-friendly, including relaxing restrictions on foreclosing on abandoned property and limiting damages in foreclosure cases to monetary damages.
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