Banks need to get their massive foreclosure backlog off the books. There are over 368,000 cases in Florida. I get that.
Getting these properties into the hands of families who can afford them, that is what I want to see. It’s needed to jump start the economy, and no one wants to see the banks out of the neighborhoods more than me.
But it can’t be allowed to happen on the backs of other homeowners plain and simple. Lenders have tried to thrust these homes back onto the market before, and that’s why they just shelled out $25 billion.
The banks were penalized for being unethical, untrustworthy and fraudsters, and it doesn’t look like they have learned their lesson.
Yet a series of proposed bills now making their way through the Florida House and Senate offer banks unjust control over the foreclosure process, all in the name of getting abandoned homes back on the market.
The Senate version, which would create the “Florida Fair Foreclosure Act”, was passed by a judiciary committee earlier this week by a 5-2 vote. There is a similar bill making their way through the House.
But are they really ‘fair’ to homeowners? Absolutely not.
These bills are being pushed by banking industry shills. They make it easier for lenders to foreclose, and allows them to do so faster.
Have the politicians in Tallahassee learned nothing from the settlement? The $25 billion isn’t even in the mail, yet some are back to their old tricks, turning a blind eye to the plights of their constituents and denying them due process.