HB 87: Florida Homeowners Win on a “Loss” as Banks Scramble to Comply with New “Law”
Homeowners get another break as banks scramble
Palm Beach County’s foreclosure filings were down again last month as the state’s new foreclosure law continues to stymie lenders.
Just 547 new foreclosures were filed with the Palm Beach County Clerk of Court’s office in September, down from 578 in August and 1,125 from September 2012.
September was the third full month for the law, which was dubbed the fast-track foreclosure law because it allows any lienholder to request a quickie court proceeding.
But the legislation, which took effect July 1, also requires to lenders to have the notes when they file the foreclosure, or provide proof of how and when the note was lost.