Broward County homeowners now face an additional hurdle when trying to complete a loan modification or short sale to avoid a Florida foreclosure.
In Sun-Sentinel reporter Paul Owers’ blog House Keys, Owers discusses the ramifications of Broward County now requiring 10 days’ notice to cancel residential foreclosure auctions according to an administrative order signed by Broward Chief Judge Victor Tobin.
Prior to the Administrative Order, Broward foreclosure auctions could be cancelled only hours before the sale. Now, homeowners looking to cancel a home foreclosure in Broward County are forced to file a motion and be scheduled for a hearing at least 10 business days before the foreclosure sale date.
Oppenheim Law Real Estate Attorney and Legal Bogger Roy Oppenheim was quoted in the article saying, “This will have unintended consequences. Clearly, the homeowner gets the short end of the stick here.”
Effectively, this order limits the time homeowners have to negotiate a short sale or loan modification before their home is put up for auction. Before the order, these deals could be completed up to the last minute.
This order appears to be an attempt to eliminate the backlog of foreclosure cases by limiting the number of homeowners who cancel their foreclosure auctions.
“Roy Oppenheim gets it, and I agree with him,” said Ronald Scott Kaniuk in a comment to the blog. “Courts throughout the state are trying to expedite foreclosures in the mistaken belief that completing foreclosures – even if the process is flawed, improper or ill-advised – is better than having cases continue to proceed on a normal track like any other litigation.”
“The fact is that these rules are ad hoc and apply only to foreclosure cases, relegating a whole class of defendants to different treatment,” Kaniuk continued. “This process doesn’t help anyone except the banks, who don’t need any more help, or bailouts for that matter.”