Florida’s foreclosure act may end up in legal battle
MIAMI —It’s a great law for the economy, banks and bargain hunters. But it may be a raw deal for homeowners struggling to hang on to their homes.
The proposal sponsored by Florida State Rep. Kathleen Passidomo, R-Naples, and Sen. Jack Latvala, R-Clearwater, looks to speed up the foreclosure process by reducing the number of hearings, easing up on the paperwork and hoops lenders must jump through to reclaim a property, ultimately reducing the wait time from five years to one.
Opponents like MoveOn.org, a liberal nonprofit political action committee, say the law is unconstitutional. The group is threatening to sue if the proposal is passed and is collecting signatures demanding that the governor veto the bill.
The group says The Foreclosure Act was passed illegally and unconstitutionally.
“The Legislature failed to adhere to the requirements of the Florida Constitution. There will be litigation initiated to defeat this illegal and unconstitutional bill, which will be unnecessarily costly litigation to Florida,” MoveOn.org says on its website.