Certified Forensic Loan Auditors, LLC

 
  Upcoming Classes

Search CFLA's Article Archive:

Orlando Senator Seeks Foreclosure Reforms, Files Four Bills

mortgageauditsonline.comMarch 3, 2013

Calling Florida ’s position as the No. 1 state for foreclosures “shameful,” Sen. Darren Soto, D-Orlando, has filed four bills aimed at helping struggling homeowners.

The bills would provide taxpayer-funded support for people who are on the verge of foreclosure, make it more difficult for banks to sue homeowners for additional debt after a foreclosure and crack down on lenders who use false documents in court.

They stand in contrast to another bill that seeks to speed up the foreclosure process, which can take an average of more than two years in Florida . The bill, filed by Rep. Kathleen Passidomo, R-Naples, is a rehash of a 2012 proposal that led to protests by consumer groups. Passidomo said the long, drawn out foreclosure process is hurting the market and slowing down the housing recovery.

Soto, who led the protests against Passidomo’s 2012 bill, said his proposals are aimed at taking the state in the opposite direction when it comes to foreclosures.

“These bills represent a vision for resolving the foreclosure crisis where we work with families to save their homes and make them more affordable as well as provide meaningful debt relief,” he said in a statement. “This vision stands in stark contrast to the numerous bills filed over the past few years with the sole intention of kicking thousands of Florida ’s working families out of their homes for the sake of expediency.”

Florida lawmakers also have about $200 million in funding available from a national mortgage settlement last year. That money is not included in Soto’s proposal and lawmakers have not decided how to use it yet. Some fear that the money could be swept away into non-housing-related issues, though legislative leaders have promised not to allow that to happen. Florida 's foreclosure rate is the highest in the nation and foreclosure filings increased significantly last year.

Tallahassee – As Florida continues to maintain its shameful distinction as first in the nation for housing foreclosures, state Senator Darren Soto (D-Orlando) announced Wednesday his filing of four bills intended to better help Floridians save their homes and protect them from unscrupulous foreclosure practices.

“These bills represent a vision for resolving the foreclosure crisis where we work with families to save their homes and make them more affordable as well as provide meaningful debt relief,” said Senator Soto, who last year spearheaded efforts to crack down on foreclosure mills. “This vision stands in stark contrast to the numerous bills filed over the past few years with the sole intention of kicking thousands of Florida ’s working families out of their homes for the sake of expediency. We can and must do better,”

Soto filed Senate Bill 1236, the “Mortgage Principal Reduction Act,” which would require the Florida Housing Finance Corporation to apply for $100 million of the federal government’s Hardest-Hit Fund program in order to begin a mortgage principal reduction program for Floridians whose homestead properties are in foreclosure.

Senator Soto and Representative Joe Saunders (D-Orlando) also filed Senate Bill 1226 and House Bill 371 aimed at giving homeowners relief after having their homestead property foreclosed upon. Currently, lenders are able to file a deficiency judgment – additional debts assessed by creditors against homeowners to make up for any loss in property value from the original mortgage amount - up to 5 years after the final judgment of foreclosure. Senator Soto proposes to change that length of time to only one year. Additionally, lenders would have only two years to collect the outstanding debt, sparing homeowners from collectors’ current license to haunt them for up to two decades.

Soto will also be introducing the “Short Sale Debt Relief Act” (SB 1228), along with Representative Fullwood (D-Jacksonville). This bill will make deficiency judgments unenforceable for short sales where the original mortgagee’s debt is greater than 20% of the fair market value.

Finally, Senator Soto and Representative Jose Rodriguez (D-Miami) are working on the “Florida Mortgage Collection Fairness Act” (SB 1218), which would prohibit mortgage collection firms from falsifying evidence in foreclosure proceedings.


Back to March 2013 Archive

CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

SEE BELOW- http://www.certifiedforensicloanauditors.com

Call us toll free at 888-758-2352

Bookmark and Share
spacer
Facebook Like us on Facebook
Twitter Follow us on Twitter
YouTube View our YouTube Videos
LinkedIn Connect to us on Linkedin
 
BBB Logo

 

spacer
Contact us or view our Sample Documents & Audits by completing the form below.

  • Reload
  • Should be Empty:


 

DVD Sets Only $99

 

FREE Mortgage Fraud Analysis

 

Order Cutting-Edge Services Now

 

Quiet Title Packages from Licensed Attorneys

 

Affiliate Services

 

CFLA Sponsored Attorney Links

 

Take-Home Education Package

 

ALB Law Firm

 

Advocate Legal

 

The True News Network

 

Sutton Law Firm, P.L.L.C.

 

Rubenstein Business Law

 

Atighechi Law Group

 

Scunziano & Associates

 

Get Certified to Perform Mortgage Securitization Audits

 

CFLA Training Academy

 

Expert Witness Services

 

Cutting Edge Expert Securitization Reports

 

CFLA Credit Cards

 

Breaking News

 

Letters to the Editor

 

CFLA Weekly Newsletters

 

Code of Ethics

 

Testimonials

 

Instructional Videos

 

Job Opportunities

 

License Opportunities

 

MARS Rule

 

Product Samples

 

Resource Links

 

Servicer Information

 

Foreclosure Laws

 

REST Report

 

Quiet Title Packages from Licensed Attorneys

 

Advertise on CFLA

 

Advertising Space: Mortgage Securitization, Quiet Title

 

Certified Forensic Loan Auditors, LLC
13101 West Washington Blvd.
Suite 444
Los Angeles, CA 90066

Phone: 832-932-3951
Toll Free: 888-758-CFLA (2352)
Mobile Users: CLICK TO CALL
info@certifiedforensicloanauditors.com

   
 
CFLA IS NOT A LAW FIRM AND DOES NOT PROVIDE ANY LEGAL ADVICE. CFLA DOES NOT OFFER FORECLOSURE CONSULTING OR FORECLOSURE RELIEF
SERVICES. CFLA DOES NOT OFFER OR ASSIST WITH ANY LOAN MODIFICATION SERVICE. CFLA ALWAYS RECOMMENDS THAT CLIENTS RETAIN COMPETENT COUNSEL IN THEIR RESPECTIVE JURISDICTION. CFLA HAS A FREE PROGRAM TO REFER CFLA CLIENTS TO LAW FIRMS IN NEARLY EVERY STATE AND CFLA
DOES NOT CHARGE OR OBTAIN REFERRALS FEES FOR THESE SERVICES. SERVICES NOT OFFERED TO RESIDENTS OF THE STATE OF NEVADA.


     
 
Home About Us Privacy Policy Terms of Service Disclaimer SERVICES Careers Contact Us
 
COPYRIGHT © 2007-2016 Certified Forensic Loan Auditors ™ All rights reserved