The housing crisis is pounding the Florida court system like a Category 5 hurricane; the state has one of the highest default rates in the country.
The state’s legal system requires judges to sign off on foreclosures. With so many Floridians losing their homes, cases are piling up and overwhelming the courts. To tackle the backlog, judges are hearing so-called “rocket dockets” of close to 1,000 cases a day. Some hearings last less than 20 seconds.
Imagine the scenario: A struggling homeowner shows up with reams of mortgage statements and other documentation, prepared to explain his plight to the judge. But he judge doesn’t have time to look at your papers. Next!
Given that reality, we’re wondering if Floridians believe President Obama’s $75 billion housing plan will actually help them?
Gary Tuchman digs deeper Friday.
See you at 10 p.m. eastern.
Anderson Cooper goes beyond the headlines to tell stories from many points of view, so you can make up your own mind about the news. Tune in weeknights at 8 and 10 ET on CNN.
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