Foreclosure Backlog In Florida Hits A Low
Courts throughout Florida are moving foreclosures through the system at a faster clip, with the current backlog of cases now the smallest since the housing crisis began.
But more than 250,000 pending defaults continue to clog financially strained judicial systems from Miami to Pensacola.
At the current pace, it will take another three-and-a-half years to clear the system completely.
Analysts attribute the recent progress to the new foreclosure fast track law aimed at further expediting home defaults. With home values on the rise, mortgage lenders are also hustling to move delinquent loans from their books to capitalize on the thriving market.
For more on this story visit: Josh Salman, Herald Tribune