Florida Foreclosures Are Being Prioritized By Legislators Who Seek State Improvements
Many will agree that it has not been anything but easy to deal with such matters but it is clear to see that there have been large efforts made to ensure that the problem is addressed properly by those who have the power to make significant changes that will bring about better results.
The state’s legislators are among the groups that are looking to put an end to the many different issues which are looming over Florida and the foreclosure problem — more specifically the current oversupply in the inventory of foreclosure properties within the state — is definitely going to be a top priority.
As a matter of fact, there are a number of laws which have been presented that are aimed at addressing the approach that is being taken by banks with the region with regards to Florida foreclosures, particularly those within the South Florida where the highest volumes of foreclosed properties seem to be found in bulk.
Deficiency judgments with regards to foreclosures is part of the main issues that are being taken into consideration by legislators who are trying their best to achieve a balance between the many homeowners and lenders all across the state as legislators are hoping to enable both parties to meet a deficiency judgment with the idea of being able to get homeowners to do certain things in exchange.
It is stated in the bill that homeowners who so happen to be in default on properties which were purchased over a specific period of time between 2004 and 2008 will be granted a waiver of deficiency with a budget of $1,000 to cover for the expenses of moving out should they be unable to settle their actions with non-monetary judgment.
In a way, the bill is looking to provide homeowners with better options which should be able to help them deal with Florida foreclosures in a manner that is going to work better than previous bills have. Many hope that such modifications are going to help put an end to the oversupply of Florida foreclosures while also being able to get more homeowners to live up to their own obligations to fulfill a unified goal of improving the overall condition of the state’s real estate market and economy as a whole.
Joan Vonnegut
Florida Foreclosures
