On December 28, 2009 the Florida Supreme Court issued its Final Order and findings relating to residential mortgage foreclosures in Florida. The full text of the report can be found here. The report notes that,
Florida has the third highest mortgage delinquency rate, the worst foreclosure inventory, and the most foreclosure starts in the nation. At the close of 2009, it is estimated there will be an inventory of approximately 456,000 pending foreclosure cases statewide.
I am still digesting the information contained within the Order, but the most significant element of the Order, is that all residential mortgages in foreclosure will be referred to mediation. This is a significantly positive development for homeowners because it will force the lender to communicate directly with the borrower.
Hidden Treasures in the Florida Supreme Court’s Mortgage Foreclosure Order
While I am just in the process of reviewing this 105 page Order to ferret out all the best parts for my clients, I am happy to report that there are several elements included in the report which are going to be very helpful for homeowners. Look back on this blog often because I will be updating as I find new nuggets of good information for borrowers. Keep in mind, that I will preserve most of the best bits for my clients….no sense in letting all the good secrets get out there!
Suffice it to say, this Order is great news…to find out how it can help you visit my website at