Hello All:
James Gage here with breaking real estate investing news; it seems Florida has put foreclosures on the fast track!According to CNN, Duval County (which is Jacksonville) has hired retired Judges to push foreclosures along at record speed. It seems Duval County along with others state wide are getting rid of the foreclosure backlog by having these hired Judges rule on Foreclosures from filing to sale at an average of 2 minutes per case! The average Judge will hear and render a decision on a whopping 35 or more cases a day.
Sounds to me like there will be a lot of challenges going on at the Florida Supreme Court level to these retired Judges verdicts. Is it me or does anyone else think that the bank and or mortgage companies have something to do with this process? I understand the frustration on both sides of the coin, but I was always taught if you are going to do something make sure you do it right the first time, and it seems to me that 2 minute hearings don't fit the bill.
As for us real estate investors, this means it's time to brush up on our REO strategies.
Until next time be well and to your success.
James Gage
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