Naked Cap: Florida Judge Cancels All Foreclosures in His District to Year End

20 Dec

Florida Judge Cancels All Foreclosure Sales in His Division Through Year End

from naked capitalism by Yves Smith

Per the order below (hat tip Matt Weidner) a judge in Broward County appears to have cancelled all foreclosure sales in one of the foreclosure division from December 20 to December 31:

Broward County Judicial Order Canceling Foreclosure Sales

One might think this has something to with the Fannie and Freddie foreclosure halts, with run from December 20 to January 3. But the GSEs have made similar suspensions before, indeed, sometimes from Thanksgiving to New Year, so this seems unlikely to be the trigger.

Moreover, this action, at least based on the account of Florida foreclosure procedures per Lisa Epstein of ForeclosureHamlet, could not impact evictions that were due to take place over the holidays. It turns out that there is usually a significant lapse between the foreclosure sale and the loss of possession. Via e-mail:

The sale doesn’t throw families out on the street, the certificate of title has to be issued (Palm Beach County is 4-6 weeks behind the sale dates at least) THEN a writ of possession must be obtained, then the sheriff has to execute the writ.

Read the rest of the story at Naked Capitalsim


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