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Senate Panel Gets More Bleak News on Foreclosures

By: Associated Press
By: Associated Press

Tallahassee, FL - A Senate committee is looking for ways
to help slow down Florida's runaway home foreclosures problem that
is hampering the state's growth and prosperity.

Officials from the attorney general's office told the Senate
Banking and Insurance Committee on Tuesday that nearly all of
Florida is considered to be in a high state of foreclosure and that
not a lot of folks are doing much about it.

They said the foreclosure process in Florida is in total
disarray.

Distressed Florida homeowners began complaining more than two
years ago about problems they were having to get banks help with
loan modifications. Some mortgage companies even told homeowners
they had to become delinquent before they would be considered for a
loan modification.

(Copyright 2011 by The Associated Press. All Rights Reserved.)


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