Well…here you go…more of the same:
“This case resolves an important issue for Florida, one of the states hardest hit by the foreclosure crisis,” said Michele Stocker, a Fort Lauderdale lawyer who represents lenders. “The decision effectively removes the unfair notion that people can live in a home for free after an extended period of time. It could help clear out the backlog of cases that have been sitting around for a while.”
By some estimates, a ruling in favor of borrowers and against lenders would have wiped out as much as $400 million in real estate-related debt obligations in Florida.
“This ruling comes as no surprise,” Stocker said. “Any other ruling would have created such havoc in Florida as it pertains to foreclosures and properties. I don’t think the Florida Supreme Court would have wanted to dip its toe into that.”
