Florida governor signs bill to speed up state’s foreclosure process | South Salem Real Estate

Florida’s governor signed a much-discussed foreclosure bill Friday, enacting a series of provisions aimed at speeding up the default process in the state.

While the legislation is considered a response to Florida’s untimely foreclosure timelines, it’s a big shift that has attracted a great deal of attention.

Attorneys working within the foreclosure space note House Bill 87 comes with new legal and procedural requirements. Critics refer to it as the ‘rocket docket‘ legislation, in reference to the quickened foreclosure review system previously in place. However, there are many procedural caveats that could make that comparison less appropriate.

The office of Florida attorney Daniel Consuegra even published an alert for attorneys advising them that HB 87 reduces the statute of limitations for filing a deficiency action to only one year from the sale or date of the acceptance of a deed-in-lieu. That section of the bill takes effect July 1.

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