Classic Double Speak on Foreclosure Bill

Good News Everybody!

The awful new Foreclosure bill (Florida HB 87, Florida SB 1666) is finally getting more attention. I've written about it before, and now Orlando Senator Soto is speaking out against the bill.

From the Florida Current:

Sen. Darren Soto, R-Orlando, flanked at a press conference Monday by housing advocates and representatives of PICO United Florida, an advocacy group for low-income families, denounced a bill designed to expedite the foreclosure process and a plan to spend $200 million in foreclosure fraud settlement money.
Soto has filed amendments to SB 1666 that would add more time for due process and require more proof from banks and lenders of ownership of a mortgage before foreclosing on a home. Consumer advocate groups back the amendments but oppose the bill. The bill was scheduled for a vote in the Senate Judiciary Committee on Monday but was not heard.
The bill speeds up the show cause hearing in foreclosure proceedings and allows third-party lienholders such as apartment complexes to begin foreclosure cases.

The amendments help, but the bill is so fundamentally flawed that it is just condiments on a shit sandwich. But most annoying is that the bill sponsors are trying to pretend that this is a consumer friendly bill. Again, from the Current.

Bill sponsor Sen. Jack Latvala, R-Clearwater, and Rep. Kathleen Passidomo, R-Naples, the sponsor of the House companion bill HB 87, tout the consumer-friendly provisions of the bill requiring banks to prove ownership of the loan before foreclosing

This is the worst type of political double speak.  The bill does require banks to prove ownership of the loan. They have to do that NOW. Currently they must do it via the actual paperwork. Under the bill they would only need an affidavit. So, instead of needing to provide the paperwork they can just promise they have the paperwork.

Remember that it was the fact that Florida law demands the actual paperwork instead of the affidavit that allowed the Robo-signing scandal to be uncovered. That discovery eventually lead to banks paying $26 Billion to the feds.

Who knows what other things might be uncovered in the foreclosure mess? But if this bill passes we will never know. Consumer friendliness does not mean helping people who rip off consumers cover up their crimes.

 Email Senator Soto to thank him for bringing attention to the issue. And contact the bill sponsors to let them know that you do not think that we should be making it easier for banks to hide their crimes. You can tweet SB 1666 sponsor Jack Latvala and email HB 87 sponsor Kathleen Passidomo.