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By 2012, it took three years to complete the process. In nonjudicial states, it takes an average of 100 days. As a result of the United States housing bubble, there is a large backlog of housing that is in the foreclosure process but unavailable to the market. This overhang has had a detrimental effect on the housing market.
On Jan. 29, 2008, voters approved an increase to $50,000 for non-school assessments, which is incorporated in Florida Statute §196.031. The reduction contained in Florida Statutes should not be confused by the Florida Constitution homestead exemption which protects the homestead from forced sale except under certain circumstances.
Article X, section 4 of the Florida Constitution [17] provides for the exemption of $1,000 of personal property, which is doubled if the bankruptcy case is a joint filing with a spouse. Florida statutes provides for an additional $4,000 exemption for personal property if the person does not have the benefit of the Florida homestead exemption.
These laws can govern your mortgage relief options if you are already in foreclosure, how to post a Notice of Sale, the sale timeline and other parts of the process. Step 1: Missed mortgage payments
Hasta la vista, your honor. The Florida Bankers Association has proposed a new approach to deal with the backlog of foreclosure proceedings in the state's courthouses: skip the courts and proceed ...
In the face of banks' rampant disregard for the law in pursuing foreclosures with false paperwork, the judiciary has started to emerge as the great defender of due process and the rule of law.
The proceeds go first to satisfy the mortgage, then other lien holders, and finally the mortgagor/borrower if any proceeds are left. Judicial foreclosure is available in every US state and required in many (Florida requires judicial foreclosure). The lender initiates judicial foreclosure by filing a lawsuit against the borrower. As with all ...
The Residential Mortgage Foreclosure Mediation Program initiative was announced in 2009 and a Florida Supreme Court Task. The Florida Supreme Court continues to devise programs in an effort to ...
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