Florida House passes speedy foreclosure bill

AP News
Posted: Feb 29, 2012 1:21 PM
Florida House passes speedy foreclosure bill

The Florida House has passed a hotly-contested measure aimed at speeding more properties through the mortgage foreclosure process.

The bill (HB 213) passed Wednesday by a vote of 94-17.

Proponents want to cut down on the backlog of Florida's foreclosure cases but critics say a speedier process will be unfair to people about to lose their homes.

The measure also has consumer-friendly provisions. It shortens to one year the time for a bank to go after any balance owed after the foreclosure sale of an owner-occupied home.

Backers say the bill is directed at homes that have been abandoned or where the property owner has no valid defense.

A companion bill (SB 1890) is in the Senate.