Thursday, September 22, 2011

Low rate of success leaves foreclosure program future in doubt

In a piece by the Palm Beach Post this week, Florida's almost two year-old mandatory foreclosure mediation program is under scrutiny by the state courts administrator because of its limited success. According to results presented to members of the state House Civil Justice subcommittee, there is only a 25 percent success rate statewide. Homeowner advocates and some mediators reportedly complained that banks are sabotaging mediations, so the program will be deemed a failure and removed from the already lengthy judicial process. Attorneys, judges and banks apparently continue to disagree over what the numbers really mean... http://bit.ly/oZ3X5G Meanwhile, according to the Miami Herald, Governor Scott intends to remove the courts from the foreclosure process citing lack of court involvement in other states... http://goo.gl/cgzvD