A Foreclosure Tsunami is overwhelming South Florida courts, writes Fort Lauderdale Sun-Sentinel reporter Harriet Johnson Brackey.
Florida real estate attorney and legal blogger Roy Oppenheim contributed to the report, which explains how a tenfold increase in foreclosure cases over the past five years is crippling the South Florida court system.
According to Oppenheim Law, South Florida courts have turned to mediation, a process prior to foreclosure proceedings that gives homeowners and banks an opportunity to avoid a battle in court if an agreement on the future of the property and debt can be reached. The problem, though, is most homeowners are not aware they now have a right to mediation.
“Mediation makes all the difference in the world,” Oppenheim says. “There are so many opportunities to resolve matters in mediation, a lot of creative ways.”
Check out the entire Foreclosure Tsunami article in Oppenheim Law’s Newsroom to find out the state’s plan to eliminate half of the foreclosure backlog by the end of the year.