TALLAHASSEE, Fla. (AP) – A bill that aims to overhaul Florida's mortgage foreclosure system has cleared a Senate panel. The Judiciary committee cleared the bill (SB 1666) by 6-2 on Monday.
Among other provisions, the bill makes banks prove in more detail that they own a mortgage or explain why they can't prove ownership. It also creates a process for others besides mortgage-holders to ask the court to speed up foreclosure cases.
But opponents say quickening the process will hurt homeowners already being harassed by financial institutions and their attorneys.
Senators also voted for an amendment allowing public notices of foreclosure actions both in newspapers and online.