They Own Our Mortgage Debt…Are They Taking Back America’s Property?
What’s happening all across Florida, in courtrooms from one part of the state to another is frankly terrifying. Courts are whipping out foreclosure judgments faster, and in my opinion, more recklessly than even in the darkest days of the Robo Signing scandals that provoked such controversy about Florida and our courts.
But what’s occurring even
In total, Florida had 260,000 foreclosures pending in court by December, about half as many as were filed or reopened in the Great Recession days of 2009, state court data shows.
One in 33 Florida housing units last year faced foreclosure and was sent a notice of default, auction or repossession, according to RealtyTrac.
Tampa Bay, which had more than 43,000 pending foreclosures, posted the sixth-highest foreclosure rate in the country, alongside many Sunshine State neighbors: Miami (No. 1), Jacksonville (No. 2), Orlando (No. 3), Palm Bay (No. 4), Port St. Lucie (No. 5), Ocala (No. 7) and Sarasota (No. 10).
Those cases have created a long-term clog in the courts. Foreclosures in Florida, RealtyTrac data shows, took a staggering 944 days to complete, longer than every state but New York and New Jersey.
Thoughts on this mortgage debt situation?