Posts Tagged ‘HB 87’

Florida lawmakers push foreclosure bill through

Wednesday, May 8th, 2013

The original article was written by Paola Iuspa-Abbott, Daily Business Review, May 8, 2013 with quotes from Roy Oppenheim republished in part with minor edits in the South Florida Law Blog.

Foreclosure_Next_ExitA foreclosure bill (House Bill 87) that’s awaiting the governor’s signature passed in the Florida Legislature in the last days of the session. Opponents argued the legislation was all about fast-tracking foreclosures with minimal judicial review. The amendment calls for reducing the number of hearings and the time a homeowner has to fight a foreclosure. A homeowner would have up to 45 days to build a defense before a key hearing to determine if a case should move forward or the lender should take the house back.

“People are going to have to move very quickly,” Weston foreclosure defense attorney Roy Oppenheim said. “It is going to put more burden on people to get lawyers. This is going to help my practice but hurt the homeowner.”

The legislation is retroactive, so it would apply to hundreds of thousands of pending cases. Oppenheim wonders if Scott would accept retroactivity. The governor cited a retroactivity clause as his reason for vetoing a bill that would have dramatically changed the state’s alimony law.

The foreclosure bill authorizes the hiring of retired judges to deal with the case backlog now gripping the state’s trial court system. That worries Oppenheim, who argues the specially appointed judges won’t be accountable to the electorate so nothing could stop them from ruling based on political favoritism.

“They can do whatever they want in the speedy trial,” he said. “It is going to become a mockery of our constitutional system.”
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Florida Foreclosure legislation invites bank fraud

Saturday, March 23rd, 2013

The following Miami Herald article was written by Roy Oppenheim and is being republished in the South Florida Law Blog.

Florida proposed legislation - HB 87 and SB 1666 - which backers claim will clear the backlog of foreclosure cases in Florida instead invites bank fraud and creates more problems by putting speed ahead of justice.

The backlog is blamed on foot dragging by homeowners. In reality, banks are to blame due to federal directives to pursue loss mitigation alternatives or by voluntarily slowing down the process to explore settlement options in the interests of both parties and the market.

However long it takes to conclude a foreclosure in Florida, given the magnitude of bank fraud, forgery and abuses that the banks admitted to, we should exempt this category of civil court cases from “time to complete” requirements.

Public policy decisions should not be based on unverified, incorrect and misleading information, particularly when that data is provided by the same industry that admitted wrongdoing.

The next problem behind any push for foreclosure reform is that the market is improving. Florida home prices have rebounded, due in part to the fact that banks and homeowners are managing the backlog of foreclosures.

Short sales and negotiated resolutions which yield higher returns than faster foreclosures would disappear under the proposed legislation.

Only institutional buyers will win. When they buy in bulk, they exclude Realtors who profit from short sales and other end user transactions. Instead of supporting this legislation, Florida’s Realtors should take California’s lead and oppose attempts to speed up foreclosures.
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