Sarasota Trib:
Courts across Florida are chipping away at massive foreclosure backlogs, and while that pace may accelerate thanks to a new law aimed at further expediting the process, choked court systems remain a reality throughout the state.
In the 12th Judicial Circuit, which includes Sarasota, Manatee and DeSoto counties, more than 1,000 foreclosure cases were expedited in the past two months alone — more than the previous 10 months of the current fiscal year combined, a new report shows.
But even with that, the process continues to lag behind what state lawmakers had in mind when they allocated more than $5 million to alleviate the situation.
For Realtors in one of the tightest markets in memory, that means little new distressed product for them to provide hungry buyers. The lack of existing homes for sale has been pushing buyers toward new homes, a thirst builders are struggling to slake in the face of skilled-labor shortages.
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377,000 Foreclosures Pending in Florida
Will More Foreclosures, Faster Foreclosures Slow This Down?
BOMBSHELL….READ THIS REPORT BELOW!
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