The bankers are once again attempting to tilt the system in their favor by trying to turn Florida into a “non-judicial” foreclosure state. What this would mean is that the banks would not have to go through the legal system in order to have a foreclosure sale, which they currently must. My law firm represents thousands of homeowners in foreclosure and we are licensed to practice in several states including California, which is a non-judicial foreclosure state. I have seen how the banks simply steam roll homeowners in California, making no good faith effort to help keep these people in their homes.

Allow me to dispel some of the common misconceptions about foreclosures in the state of Florida. First, it does not take years for a bank to foreclose on a property, which is commonly cited by the media. The truth is, 96% of all foreclosures are actually “uncontested,” meaning the homeowner does nothing to fight the foreclosure and the court simply grants the lender’s request for a foreclosure sale. Second, the courts are inundated with foreclosures, but Florida has increased the filing fee from $300 to $900 (on average), which is more than enough money for the judicial system to hire additional personnel to keep up with and process these complaints efficiently.

Third, when a homeowner does decide to hire an attorney to contest a foreclosure, it is usually for a very good reason. The banking industry had gone unregulated over the past decade and was operating like the Wild West. Banks were routinely violating federal regulatory laws when granting mortgages on real property. The foreclosure cases we have fought for have usually lasted anywhere from six to eighteen months. The reason that it can often take so long, is because the banks are so ineffective at resolving these issues, for which there is no excuse.

Most homeowners in foreclosure desperately want to keep their home, have invested much of their life savings in it and are willing to make mortgage payments if they can. When you take the legal system out of the foreclosure process, you take away any obligation or willingness by the banks to help the people that need it the most. Making Florida a non-judicial foreclosure state would be a major victory for the banks’ bottom lines, and a terrible defeat for the homeowners of Florida.

Published: March 3, 2010

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