Time to overhaul foreclosure process? ‘Court’s cry for help’

WEST PALM BEACH — Nearly a quarter of the nation’s home foreclosures have Florida addresses, leaving the Sunshine State with the largest chunk of the country’s mortgage woe.

The number of Florida loans in foreclosure – 466,454 – is more than the total number of loans in 22 states, according to a new report from the Mortgage Bankers Association that looked at mortgage delinquencies in the first quarter of this year. Florida’s share of the national foreclosure pie is 23.7 percent.

And while some states are on the “mend,” churning through foreclosures and getting properties back on the market, Florida’s foreclosure inventory remains mired in a robo-signing scandal and an overburdened court system that has now lost additional resources to chip away at a 310,770-case backlog.

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