Untold millions of taxpayer dollars are being used to fund Florida’s foreclosure court system
Money that could be used to fund schools, education, improve communities.
Instead, these millions of taxpayer dollars are being diverted to serve the interest of banks.
In Pinellas County, there have been 146 foreclosure auctions so far in February. Of those auctions, only 33 went to third party purchasers….the rest reverted back to The Banks. The same banks that paid money, as part of the National Mortgage Settlement, to fund the foreclosure courtrooms that are executing foreclosure judgements at an extraordinarily rapid pace.
And what exactly is happening with those homes? If they’re not being sold to third parties and the banks are just taking them back….what’s the point? And what’s the point of foreclosing when new mortgage applications are at their lowest level since 2000?
This is madness. It is not economically rational.