Attorneys fight foreclosure reform bill - WFLA News Channel 8

Attorneys fight foreclosure reform bill

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PINELLAS COUNTY, FL -

Local foreclosure attorneys are forming a new consumer advocacy group to fight a proposed state foreclosure bill."Homeowners lose due process...homeowners lose the opportunity to go forth with their attorney and raise legitimate defenses that they could otherwise raise," said St. Petersburg attorney Matt Weidner

State Representative Kathleen Passidomo of Naples who sponsored the bill disagrees. "This bill is a very fair, a very measured response to a crisis we have in the state of Florida,"said Passidomo.

House Bill 0087

-requires lenders to move more quickly by presenting all necessary paperwork up front.

-allows any lien-holder, like a homeowner's association to initiate the foreclosure process.

-and cuts the time from five years to one year, that a bank can go after a homeowner for money owed from an underwater mortgage.

But Weidner insists not all foreclosure delays are bad...mediation and modification programs often hold-up the process...but they benefit both the lender and the homeowner. Weidner and his group are creating a website to fight the bill," What we're seeking to do is raise the profile of this issue."

If passed, the bill could affect the more than 350-thousand foreclosures pending in Florida.

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