TALLAHASSEE — The Florida Legislature is considering bills that could respond to some issues plaguing the housing industry and possibly prevent future problems.
House Bill 1523 is getting early attention from mortgage lenders and brokers. It would expand the foreclosure process to skip overburdened courts completely and shift some of the work in avoiding home repossession to the banks.
“The first people who are usually aware of any type of problems in a mortgage is the lender,” said Matthew Augustyniak, president and CEO of Horizon Realty International Inc. in Sarasota, which focuses on pre-foreclosure short sales. “This is a perfect scenario for the banks to be able to say, ‘Hey guys, you have a foreclosure imminent. We have some options for you.”
Finding options to foreclosure
The bill, introduced by State Rep. Tom Grady, R-Naples, and since modified in committee, would create three options when a mortgage goes into default.
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Tags: Bill, Foreclosure Bill