Check out Bay News 9’s latest update on the Foreclosure Bill!
(click here to watch news video)
Tuesday, April 13, 2010:
BAY NEWS 9 — Florida lawmakers are looking at a bill, the Homeowner Relief and Housing Recovery Act, which would allow some homeowners to go through the foreclosure process without going before a judge.
Attorney Matthew Weidner said the proposed law would make the foreclosure process faster and easier for banks, but that some people will give up their rights if the bill becomes law.
“It removes judicial oversight in the foreclosure process,” Weidner said. “Right now if a bank wants to come and take your home, or a legislator’s home for that matter, they have to go through a judge. A judge that we elect. A judge that’s fair and is independent. What the bankers want to do is to remove that fair and independent judicial oversight of the foreclosure process.”
But state Sen. Michael Bennett (R-Bradenton), who’s sponsoring the bill in the Senate, said some homeowners want the non-judicial foreclosure option. Bennett also said the program is voluntary.
“We actually have a lot of homeowners who, if they could get away from the deficiency, would be very happy to walk away from the whole deal,” Bennett said. “But we want to make sure that if they still want to go to court, that if they still want to fight it, they can still have that opportunity. So, it’s strictly a voluntary thing by the mortgagee.”
Similar bills are making their way through House and Senate committees.”
Watch the Bay News 9 Video below:
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