The controversial Florida law intended to whisk foreclosures through court has instead led thousands to pile up, prolonging the agony of the state’s housing crisis, new court data show.
When the “faster foreclosures” law first took effect in July, Florida courts saw 4,386 new foreclosures, plummeting 70 percent below the state’s average of 15,000 filings a month.
The plunge was even more severe in Hillsborough, Pinellas and Pasco counties, where banks filed 465 new foreclosures, down from an average of more than 2,000 a month.
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