A trio of early bills filed in Tallahassee aim to provide more protections to Florida homeowners and tenants in foreclosure cases, but it’s unlikely any will be passed.
The bills, all filed by House Democrats, likely will have an uphill battle next year in the Republican-controlled Legislature, which didn’t act on similar proposals in 2009. All three measures also face resistance from the state’s banking industry, which remains politically influential despite the economic beating it has taken.
And, foreclosure experts say, some of the bills’ provisions might be undercut by state and federal laws and mortgage-relief efforts.
“I doubt any will get passed, but we’ve got to do something about this crisis,” said Rep. Darren Soto, D-Orlando, who filed two of the bills.
Florida ranks second nationally in foreclosure activity, with one in every 140 homes receiving a foreclosure-related notice in August, according to RealtyTrac, a tracking firm in Irvine, Calif.
One of Soto’s bills would prohibit deficiency decrees in final foreclosure judgments against homesteaded property. A deficiency decree is a judgment against a borrower for the balance still owed if his property is auctioned for less than the final foreclosure judgment amount.
The other would, among other things, allow borrowers to invoke mediation in foreclosure cases involving homesteaded properties.
A third bill by Rep. Hazel Rogers, D-Lauderhill, would force lenders to provide greater notification and financial assistance to tenants involved in foreclosures or short sales.
No comments:
Post a Comment