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FORECLOSURE PROCESS FINISHED IN 100 DAYS?
An excellent post from an Attorney regarding how recent changes have streamlined the foreclosure process that in some cases could force the homeowner to lose their home in 100 days. The key point for those in this unfortunate situation is: don't procrastinate.
Recently several borrowers have stated to me that the foreclosure process in Florida is going to take two years. The long foreclosure process was caused by a combination of overloaded plaintiff attorneys, overloaded lenders, and overwhelmed court system. Although that statement (as unfortunate as it is for the foreclosing banks) was pretty accurate at one time, today is a different story.
Today there is a new dawn in the foreclosure legal system. Where once there was one judge handling foreclosures, now (in Palm Beach County for example) there are at least six. Where once the clerk used its own employees for all tasks, now the clerk has rounded up a posse of volunteers to do filing and other tasks. Where once the public foreclosure sales were backed up for months to get on a sale sheet (which were twice a week) and done by human beings, now it is all done by computer and take place 4 or 5 times a week. I ... more
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