Homeowners who lose their home in a fraudulent foreclosure won’t be able to get it back once the bank has sold it to someone else, if a bill passed by Florida’s House of Representatives today becomes law. The bill, aimed at speeding up the processing of foreclosures through the Florida court system, would also restrict the right of banks to pursue additional claims after foreclosing on borrowers, reducing the window for filing such claims from five years to one year. Florida lawmakers have been attempting to reform the state’s foreclosure process for three years, and the Senate could still derail the latest attempt. Source: The Miami Herald.
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