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Florida Senate Bill 1890 to Streamline Foreclosure Process

Yet another landmark bill regarding foreclosures is set to take effect. But this time it’s closer to home for Florida families facing foreclosure defense. A 5-2 approval of Florida Senate Bill 1890 came Monday with strong opposition from foreclosure defense attorneys and hesitation from some committee members.

There are no final decisions made but if you have questions or concerns about how this bill will or can effect you call Orlando Florida foreclosure attorney Eric Lanigan or Roddy Lanigan. Set an appointment to learn more about your specific foreclosure case.

The plan contains consumer protection language including reducing the amount of time a bank could pursue a homeowner for unpaid mortgage debt from five years to one year. The plan has earned support from the Real Property Probate and Trust Law section of the Florida Bar.

This foreclosure bill would require a homeowner to present a sound defense or face an immediate judgment in some cases and the bill moved nearer to a full legislative hearing Monday after a blessing of the Senate Judiciary Committee.

Monday’s vote marked the toughest  proposal to streamline Florida’s strained foreclosure process. It has advanced in the Legislature since the housing collapse, but it’s in no way a done deal, lawmakers and lobbyists say.

The House and Senate foreclosure proposals aim to streamline foreclosures by allowing any lienholder to hasten a foreclosure case if a property is abandoned or the homeowner does not respond with a defense within 20 days of being served.

Currently, only the bank that owns the primary lien can file for what is called a show cause order. In this a homeowner must prove why the bank doesn’t have a foolproof case. If a judge sides with the bank, a final foreclosure judgment can be issued immediately.

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