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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Comments are posted from viewers like you and do not always reflect the views of this station.
  • by robed Location: homeless on Jan 12, 2011 at 07:31 AM
    Stop the BANK Fraud! It is fueling the problem.
  • by me Location: fla on Jan 12, 2011 at 07:10 AM
    get out of the way and it will bottom out then it will fix it's self.keep gov.out//
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