Legislative Update – Action Required

PASSING ALONG A REQUEST FROM THE COMMUNITY ASSOCIATION INSTITUTE.

05/06/13

Florida HB 87 is on its way to Governor Rick Scott and CAI-FLA needs your help in contacting Gov. Scott and asking him to sign HB 87 into law.

Foreclosing on a mortgage in Florida is a lengthy process with the average time between the foreclosure filing and conclusion of the case being 853 days while the national average is only 414 days. This foreclosure crisis has negatively impacted neighborhoods, negatively affected the judicial branch in terms of both funding and caseload and impeded Florida's economic recovery. HB 87 places an affirmative duty on lenders to produce the mortgage note or provide sworn evidence that they are the owners of the note, thereby eliminating the fraud and other problems that resulted from the robo-signing practices of the past. For the benefit of the borrower, the legislation also shortens the statute of limitations for deficiency judgments from five years to one year. The bill makes revisions to the current show cause process which will streamline and expedite the judicial process while at the same time preserving all appropriate due process rights of the borrowers. It also permits community and condominium associations standing to request the court to move the case along when there are delinquent assessments due.

Please call Gov. Scott at (850) 488-7146 or email him by following this link and tell him to SIGN HB 87.

Sincerely,

CAI-Florida Legislative Alliance