The Real Deal Miami

Backed-up courts mean long wait for foreclosure buyers

April 06, 2010 09:02AM

Even though there are now three times as many employees handling
foreclosures in Florida courts, making digital versions of 30,000 pages
of case files each day, Florida’s courts are still backed up with
foreclosures. The long delays mean that those who purchase foreclosed
properties at auction wait far longer than expected to receive title to
the properties. Some say the delay is having a negative economic
effect, as each newly-purchased foreclosure property results not just in a
new home, but new jobs renovating the houses and new property taxes
paid to the state. The courts have asked for $9.6 million to fund more
judges and hasten the flow of foreclosures. [Palm Beach Post]