Picture this: the biggest road out of town. Now imagine it is rush hour. In
a thunderstorm. Add that it also a hurricane evacuation. A lane is closed due to
construction delayed by budget impacts. Imagine the traffic jam.
The clearest description of the impact of the foreclosure crisis and the
following recession on Florida's courts can be summarized by that picture.
Imagine every car a case. The General Jurisdiction Courts of our State have a
certain amount of judicial infrastructure, just like there is a certain amount
of room on the road. There is a certain capacity of judges, of court staff, of
clerks, of filing space, of hearing time, or courtrooms, even of hours in the
day. Year in, year out, that capacity flexes with the caseload traffic to afford
reasonable, prompt, efficient and fair justice.
The enormous increase in foreclosure filings has overwhelmed those
resources in many circuits and represents a traffic jam that the infrastructure
cannot meet in a timely and efficient manner without support and traffic
management.
Thursday, September 3, 2009
New Report Details Mortgage Foreclosure Frusturations For Community Associations
In August 2009, the newly appointed Residential Mortgage Foreclosure Task Force, created by the Florida Supreme Court released it's final report on Mortgage Foreclosure Cases. The Task Force is Chaired by Judge Jennifer Bailey. Having listened to Judge Bailey speak recently on the issue of Mortgage Foreclosures and their effect on Community Associations, as well as having met with her briefly, I can say that Judge Bailey is very informed and aware of the burden the current Mortgage Foreclosure Crisis is having specifically on Community Associations (Condo's and HOA's).
You can find the complete report at
Judge Bailey uses an excellent example to describe the situation we are facing today.
Our client Board Members come to us often wondering why the long delay in many Mortgage Foreclosures. Although, we have been able to develop valuable tools to move rather rapidly with most collection cases, even Mortgage Foreclosures, sometimes the Association may have no choice but to monitor the Mortgage Foreclosure. This report provides details as to why those delays are occurring (for example, the rescheduling of final judgements) and even provides options that can be used to speed up the process and recommendations that will eventually, if approved, benefit Community Associations.
Contact us with any questions about this report, or about Community Association collections. We can help!
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