Session review: Controversial foreclosure bill dies

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A controversial measure to speed up foreclosures fell by the wayside as lawmakers called it quits this past week. The proposal (SB 1890/HB 213) would have accelerated foreclosure proceedings on abandoned properties and also made it easier for lenders to complete proceedings in cases in which both parties agreed to end the process. For consumers, the bill would have reduced the length of time lenders could go after a borrower following a foreclosure sale from five years down to one year. Backers said the change would have allowed homeowners to get on with their lives. Other provisions, however, were more lender friendly, including relaxing the restrictions on foreclosing on abandoned property and limiting damages in foreclosure cases to monetary damages.

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.