Pavilion from the Ocean

Pavilion from the Ocean

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Gov. Scott signs foreclosure bill - 7th June 2013

Gov. Rick Scott signed a bill Friday designed to speed up foreclosures Florida, but critics say the measure is unfair to homeowners.

HB 87 requires homeowners to respond more quickly to foreclosure filings and gives community associations more power in the process.

The bill, sponsored by Sen. Jack Latvala and Rep. Kathleen Passidomo, also requires lenders to have their paperwork in order before filing a foreclosure complaint. And it cuts the time period in which banks can seek a deficiency judgment against homeowners to one year from five.

Condominium associations across Florida were devastated financially during the housing bust when owners fell into foreclosure. That forced the remaining owners to make up shortfalls in monthly maintenance dues, and many of those owners became delinquent on their mortgages as a result, Berger said. 

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