Last week: Florida has the largest number of homes in some state of foreclosure in the nation. CoreLogic reports Florida has 8.8% of the foreclosures nationwide. One reason given is the process we use. Our cases are handled in the courts as opposed to an administrative hearing process.
Some cases are more than 6 years old due to the robo-signing issue in 2010. These abandoned and neglected properties are neighborhood eyesores and devaluing properties throughout Broward County. They are causing code enofrcement issues in our cities.
The State of Florida needs to find a solution to this nightmare in our neighborhoods. Either fund the courts to hire more retired judges to speed up the process or find a temporary solution to deal with the backlog. Magistrates handle traffic and family matters. Why not hire some temporary magistrates to deal with the foreclosure backlog?
Looking ahead: The Feds proposal to make banks beef up their measures of financial health to avoid another federal bailout. In 2008 we saw our government bailout banks and still created a financial crisis.
The current proposal wouldn't take effect until 2018. You gotta' love the FDIC. It takes them over 5 years to make a recommendation for a solution on a problem they created and they are willing to wait another 5 years for their proposed solution to take effect. Perfect Ten years after the fact to implement a solution.
The FDIC doesn't represent Americans they represent big financial institutions on the backs of tax paying Americans!
Last week: I believe Senator Wendy Davis' heroic action of the floor of the Texas Senate deserve the respect of all of us. 13 hours of no breaks for the bathroom, food or water to fight for a woman's right to choose should be a call to action for all of us.
Looking ahead: "The 1% increase in mortgage rates is alarming. We were slowly coming out of a recession. I hope this does not set us back.
The discussion is causing some to start questioning increases in spending. The low interest rates we allowing our economy to recover. I believe this was a step in the wrong direction.