House committee passes quickie foreclosure bill

by Kim Miller

A bill that would hasten Florida’s foreclosure process while reducing the time banks could pursue a homeowner for loan debt won a tepid approval from the Florida House Economic Affairs Committee this morning.

The proposal, HB 213, is derided by homeowner advocates who fear it will leave borrowers with less defenses against bank repossession. But supporters claim it would only allow quickie foreclosures in cases where homes are abandoned, when the action isn’t challenged, or when a judge rules the homeowner has no legitimate reason to block a bank takeover.

Rep. Kathleen Passidomo, R-Naples, is sponsoring the bill. She defended it Wednesday against critics who claim it takes foreclosures out of the judicial system.

“Firstly, and let me put everyone’s mind at rest and contrary to the e-mails and calls you’ve been getting, this bill is not a non-judicial foreclosure bill,” Passidomo said. “This bill expedites the judicial process while at the same time guaranteeing the rights of citizens.”

Catch the rest here…

Need to keep the pressure on!