Florida’s governor considers taking courts out of foreclosure process

Florida’s governor is considering taking the courts out of the foreclosure process which supporters say will  speed up  the foreclosure process and get houses back onto the real estate market in a quicker phase.  The new concept is already used in 30 other states. For example, court action isn’t needed in Michigan, Arizona, California and Nevada – other states with high foreclosure rates. On average, foreclosure proceedings in those states take from 392 days in Arizona to 511 in California. In Florida it takes 638 days!

The theory is that if you can move more quickly, properties can get back on the market, and it will stimulate the economy. It will also help to faster clean up the “foreclosure mess” and bring the market back to more normal circumstances.  This will help stabilize prices.

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