More troubling signs point to potential increase in defaults

More troubling signs point to potential increase in defaults

And yet we introduce a 100% LTV mortgage

Calgary housing market a canary in the shale mine?

Home prices, sales plummet alongside price of crude oil

Here's why the loanDepot CEO loves the CFPB

Regulatory environment huge barrier to entry
W S
Servicing / The Ticker

Despite new law, Florida foreclosures take longer

Florida
/ Print / Reprints /
| Share More
/ Text Size+

Foreclosure cases are taking longer to get through the court system despite a recent law that aimed to speed up the process, an article in the Orlando Sentinel explained.

Cases that were cleared at the end of last year took an average of 32 months to get through the courts — up from 28 months a year earlier, according to the real-estate research company RealtyTrac. Five years ago, when foreclosures were relatively rare, they were taking seven months.

The law, passed last year, gives banks the option of a streamlined way to repossess a home if they have the required documentation. The state has not tracked the use of the new process, but judges, attorneys and other experts say the measure has done little to unclog the courts.

Read full story

Recent Articles by Brena Swanson

Comments powered by Disqus