In a recent article by editor Paul Owers, the Sun Sentinel reported that “New foreclosure cases declined across South Florida” in September and the third quarter, according to a report Thursday from RealtyTrac Inc.
Published exerpts by Roy Oppenheim in the article are republished here; but WAIT, there’s so much more!
Real Estate rumor mill – take note: Rumor has it from a highly-credentialed source that – the retired South Florida ‘Judges’ appointed about 6 years ago to come out of retirement are yet, retiring again. Yes!
Once again, what started as a special division to push foreclosures in Florida through the judicial system more quickly has come to a screeching halt!
As legislature would have it, there are NO funds in the budget to renew the ‘part-time, old-timers’ contracts to keep the foreclosure housing crisis flowing quickly through the system. Senior judges are no longer afforded the special allocations. Happy retirement; again, foreclosure Judges.
The reason why?
According to the Sun Sentinel, “Broward had 180 filings last month, down 59 percent from September 2013. In the July-through-September period, Broward foreclosure starts dropped 63 percent. And, Palm Beach County had 381 filings in September, off 45 percent from a year earlier. Third-quarter starts fell 23 percent.”
Roy Oppenheim, a South Florida foreclosure defense lawyer, according to the Sun Sentinel, said other factors could contribute to more foreclosures, though he doesn’t expect the problem to return anywhere close to the crisis levels of 2008 and 2009.
“There will always be foreclosures out there,” he said. “It’s going to be become a permanent part of the economy.”