Florida Supreme Court Approves Mediation Prior to Foreclosure

Under new rules approved by the Florida Supreme Court last week, lenders will be required to pay for investigating and verifying ownership and going to mediation before they can foreclose on Florida homes. Since Florida has the fourth highest number of foreclosures in the country, any help is appreciated. The decision was unanimous except the law requires that lenders will need to get an approval of a judge before a foreclosure sale can be cancelled.  [Justices Charles Canady and Ricky Polston dissented.]

 This should help to eliminate some of the foreclosure cases in the Florida court system, and prevent foreclosure actions against borrowers who no longer own the properties. Lenders have so many mortgages in default that mistakes are made occasionally with regard identifying the owner of the home.

 For those Boca Raton sellers who are facing foreclosure, you should discuss your options with a foreclosure defense attorney.  If you decide to sell your home with or without a short sale, we can help you as well.

 For Boca Raton, buyers we have a large inventory of foreclosure and short sale properties in the Boca Raton and surrounding areas that you may be interested in purchasing.  Please give our Team a call today at 561-715-8630.