Fla. Legislature: Foreclosure fight develops

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TALLAHASSEE, Fla. – Feb. 10, 2010 – The Main Street versus Wall Street fight that has consumed national politics for much of the last year has made its way to Florida with two lawmakers pushing a proposed “Foreclosure Bill of Rights” while bankers are shopping a bill to do away with legal proceedings in foreclosures altogether.

The battle is playing out on the watch of Senate President Jeff Atwater, a banker by trade, who suggested that any pro-bank legislation that puts people out of homes more quickly would likely be a long shot.

Sen. Dave Aronberg, D-Greenacres, and Rep. Darren Soto, D-Orlando, announced Tuesday their “homeowners’ defense legislation” (SB 1778), which they say would pre-empt the possible eviction of tens of thousands of Floridians from their homes by requiring mediation, and for home loans to be renegotiated at current values. They said they filed the measure in response to an initiative, backed by the Florida Bankers Association, which would create a non-judicial foreclosure system that speeds up foreclosures to 90 days.

“It is fundamental to our economic recovery that we resolve the foreclosure crisis in the state of Florida and there are two vastly different visions out there,” Soto said during a news conference at the Capitol. “While the banks seek to avoid judicial process altogether, allow 90 days and show our Floridians the door with no incentive to settle, we’re here to say, ‘no.’ We will not allow a half million Floridians to be kicked out on the street. We will not allow bailout, spend-happy banks to dictate our agenda here in Tallahassee, and we will not allow the trampling of the rights of Floridians for mere convenience.”