Non-Judicial Foreclosure Is Ridiculous Part IV
It is ultimately the lenders decision whether to deny a modification. It is the lenders who decide not to allow a principal reduction. It is the lender who decides not to lower the interest rate. It is the lender who shuts off communication with the homeowner. It is the lender who decides at what price a short sale will be allowed.
Mr. Sanchez then switches his argument to investors and flippers, and his argument is vague and ends with a flippant comment. He attempts to bolster his argument by alluding to the amount of homes in foreclosure that were purchased by speculators. Yet his argument fails to gain strength, and in fact becomes fractured.
If his argument is that speculators are not entitled to their day in Court, then, wouldn’t the same hold true for other types of cases. Maybe there are too many small claims cases, in his opinion, or maybe he feels there are too many criminal cases in the Court system. Why do they have to be in Court? My only comment to Mr. Sanchez on this point is that I think investors and flippers are still entitled to their day in Court, and the law in the State of Florida guarantees this proposition.
If the investors and flippers overextended themselves, they will have to pay the piper, but they should not be denied their day in Court. In reality, most investors and flippers do not fight the foreclosures and their cases end up on the rocket docket anyway. So, their cases will be disposed of with little to no Court intervention. Unfortunately, this segway does not add to Mr. Sanchez argument.
In reality, Mr. Sanchez’s arguments do not support his position that Florida should adopt Non-judicial foreclosure. He has taken some liberties with his facts about the current foreclosure crisis in Florida, and he attempts to persuade the public that the banks are the real victims here.
The new proposal by the Florida Bankers Association is a knee jerk reaction after two years of waiting for another government bailout. The Association wants to take Judge’s out of the process so that they can continue placing garbage into the Court system.
This post was submitted by Carmen Dellutri, Esq., founder of The Dellutri Law Group, P.A. Currently, the firm has offices in Port Charlotte, Fort Myers, Naples and Sarasota. Mr. Dellutri also sits on the Board of American Board of Certification. Mr. Dellutri is also one of the founders of the Bankruptcy Law Network, Debt Law Network, Credit Law Network, and Mortgage Law Network. Mr. Dellutri also writes for the firm's personal injury litigation blog. Mr. Dellutri also writes for the firm's other blogs: www.faircreditreportingactblog.com and www.fairdebtcollectionpracticesactblog.combankruptcy blog.
