Following a monthly high volume of foreclosure filings from July 2008 to July 2010, there has been a significant decline in new cases through August of 2013. This information was provided by The Florida Bar News in its November 1, 2013 issue. The article summarized a report to the House Justice Appropriations Subcommittee on October 8 by Lisa Goodner, Florida’s State Courts Administrator. Let’s take a look at other highlights from the report.
There are currently pending 299,055 mortgage foreclosure cases in Florida. As case dispositions are exceeding case filings, that number reflects a reduction of 78,652 pending cases from June 2012. With additional funding available, Florida courts have added general magistrates and senior judges in an effort to continue reducing the case backlog. Currently, the state’s Foreclosure Backlog Reduction Initiative calls for elimination of the backlog over a three-year period and, according to Goodner, the current rate of disposition would have the state on track to meet its annual reduction goal in the current fiscal year. Whether Florida can stay on the three-year track remains to be seen as there is some question of whether the new foreclosure law (HB 87) has caused a temporary slow-down in filings. Still, the outlook is positive with 41,547 case dispositions in the first two months of the fiscal year compared to only 11,431 new filings.