In recent years, Florida and many other parts of the country have been experiencing mounting backlogs when it comes to foreclosure cases.
Why is this occurring? One factor that likely has contributed to the development of the backlogs is the fact that many people have faced mortgage problems in the wake of the recent economic crisis. This has led to many foreclosure cases arising.
Some believe that the foreclosure backlogs could pose real problems. Specifically, some claim that these backlogs may work to slow recovery in the housing market and the economy.
In recent times, Florida tried a method to address the backlogs. Specifically, the state provided funding so that retired judges and staff could be hired to cut into the foreclosure backlogs. Some referred to the system these funds went towards as the “rocket docket.”
However, the state opted not to renew this funding and, yesterday, the funding for the rocket docket cut out. Not everyone sees this as a bad thing, as many concerns about the rocket docket’s fairness have arisen during the time it has been in place.
The ending of the funding to the rocket docket brings up some interesting questions. Will Florida now try new methods to reduce foreclosure backlogs? If so, what will these new methods be and what effects will they have on homeowners? It will be interesting to see how these questions are answered. One hopes that if the state does try new ways to reduce foreclosure backlogs, that they will make sure that such methods are fair to homeowners.
Source: The Washington Post, “Foreclosure backlogs taking longer to process,” Brady Dennis, 30 Jun 2011