According to Realty Trac, there is an estimated 368,000 backlogged foreclosure cases in Florida.
On Monday, February 27, 2012 there was a 6-4 vote in a meeting held of the Senate Banking and Insurance Committee on a proposal commonly known as SB1890, which is a bill that was designed to shorten the time a bank would have to wait to pursue a foreclosure on abandoned homes.
While there are opponets to the bill from those who fear that homeowners won't have "their day in court," there are just as many advocates for the bill from others who believe that abandoned homes are only stalling the recovery of the housing market.
The proposal states that any lien holder could fast-track the foreclosure process if a property is abandoned or the homeowner doesn't defend their situation within 20 days of being served.
And so, each side of the proposal shall now be pushing for their side to prevail.
If your vote were to be counted, which side would you choose?
And, at what point would you say a home has been "abandoned?
Helping homeowners prevent foreclosure is one of my passions. As a Certified Distressed Property Expert, I welcome the opportunity to chat with you about selling your home as a short sale. There are many more options available to sellers today than in year's past and advocating for our sellers is what I love most about selling real estate in Central Florida. Contact me for a confidential, no-obligation review of your situation...at NO COST to you!
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