Key findings from our investigation into Florida's foreclosure courts
- Florida has set up a parallel legal system to tackle backlog of foreclosure cases with brutal efficiency.
- Florida Supreme Court's goal is to close 256,000 foreclosure cases a year — that breaks down to 700 cases each day, if judges work weekends & vacation days.
- In Florida’s parallel foreclosure courts, banks can ignore a defense motion for 60 days and it disappears.
- Unlike Florida's elected judges, foreclosure judges are effectively temps who don't have to face voters.
- Mortgage giant Freddie Mac pays loan servicers who expedite foreclosures, and charges a daily fee for delayed cases.