Friday, March 19, 2010

Florida courts choking with foreclosure cases

WEST PALM BEACH, FL -- State courts are taking brand new action to try and alleviate the chokehold that foreclosures are causing and keeping everyone's property values down.

Palm Beach County has one of the state's worst number of filings.

Florida's courts have requested a one-time payment of $9.6 million to help cleanse the system and get the housing market back on track.

Foreclosures in Florida often take more than a year to settle, homes then deteriorate, and families are left with many questions.

Officials say they want to get properties through the courts and back onto the market.

According to the Palm Beach Post, Florida's lawmakers are considering the court's appeal for more money, which would come from the State Courts Revenue Trust Fund, and pay for additional case managers and retired senior judges.

The Florida State Courts Administration estimates 500,000 property foreclosures are pending in Florida, including 55,000 in Palm Beach County.

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