TALLAHASSEE, Fla. - The senator sponsoring a bill that would overhaul the state's mortgage foreclosure system has temporarily yanked it from consideration.
Sen. Jack Latvala on Monday withdrew the bill (SB 1666) as 10 minutes remained in the Senate Judiciary committee meeting on Monday. The Clearwater Republican later said the bill has pending amendments and needs at least a half-hour of discussion. It could be heard next week.
Among other things, the bill makes banks prove in more detail that they own a mortgage or explain why they can't prove ownership. It also creates a process for others besides mortgage-holders to ask the court to speed up foreclosure cases.
Opponents of the bill have said a faster process will trample on the rights of homeowners already being hounded by banks and their attorneys.