Some lenders are willing to cooperate with Governor Charlie Crist’s voluntary plan to freeze new foreclosures for the next 45 days. This project hopes to give hope to Floridian families struggling with foreclosure.
The voluntary plan is made for people with the trouble of losing their houses due to foreclosure. It is not for commercial properties like rentals and second homes. This also aims to aid new foreclosure processes, not those who are already in so deep.
The governor’s office then announced that lending organizations are now requesting other institutions to temporarily halt new petitions for foreclosures within this 45 day period. Crist is very optimistic.
Foreclosure in Florida is so high that it tailed Nevada and Arizona as top foreclosure rating states. Florida also followed California in the line of foreclosure filings.
Crist is just happy with his announcement when some people reacted. Some say that this plan is unsure on how many homeowners can it help and if all lenders will consent.
Democratic Party of Florida member Rep. Scott Randolph, D-Orlando, the same person who proposed a 120 day delay on foreclosures said that it is vital for homeowners to know where they stand with their creditors. He believes that without details, nothing would be different.
Florida Bankers Association President Alex Sanchez agreed with the Governor’s proposal and sees the plan as a reiteration of the lender’s effort to prevent foreclosures.
President of Sunshine State Community Bank Dennis Brown agrees with Sanchez that lenders are really trying to work it out with the borrowers. He said he does not like keeping homes in foreclosure then ruining the banks reputation in the community.
With Crist optimistic spirit and the cooperation of banks, and lenders… the to-be foreclosed can spend their holidays in their lovely homes.
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