Despite new law, Florida foreclosures take longer
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.