Democrats are acting fast due to foreclosures in Florida

The measure backed by the bank to expedite foreclosure cases has led to the Democrats agitatedly fighting back to restore the rights of the borrowers in the Legislature.

State Senator Dave Aronberg together with Rep. Darren Soto are thinking of introducing a “Foreclosure Bill of Rights” opposing a measure that has yet to be enforced.

The latter would have allowed the lenders of mortgages to possess their properties without having to go to court.

This war has placed the president of the Senate Jeff Atwater, who is also a banker from North Palm Beach into an awkward situation with over 500,000 residential houses in Florida passing through the foreclosure process.

Homeowner associations are complaining that that they are not getting their dues because of this huge backlog of foreclosures pending in the courts. It could take nearly two years or perhaps more to be completed.

But in the election year in Florida the unemployment figure has run into double digits and it has not stopped there. The Florida Bankers Association has lobbied hard to expedite the process. But with this new stand by Aronberg and Soto, things would not be as easy as they had expected.

Atwater said, “Imagine here you are asking public policy makers to consider accelerating someone’s loss of their home. I think that’s going to be a very tender spot to go.” The bankers are in a tough jam with public outcry against what they have done with the bailout funds.

Aronberg, a lawyer by profession is targeting the post of the Attorney General. Referring to the banker’s proposal he said that it “pushed him over the edge.” He explained that it challenges the constitutional rights of the residents of Florida to their taking legal action against wrongs.

Aronberg pointed the accusing finger at the increase in foreclosure rate – the work of “large institutions that helped create this economic crisis through their own reckless behavior and in some cases fraudulent behavior.” His area stretches from Palm Beach County right across Florida to Lee County – it having the 2nd highest number of foreclosures in USA in 2009.

The bill initiated by Aronberg would keep the foreclosure issue within the bounds of the judiciary. It would make mediation compulsory prior to the lenders going ahead with foreclosures if the unit has gone underwater. It would be applicable only to the residences occupied by the owners.

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