TALLAHASSEE, Fla.—A Senate committee is looking for ways to help slow down Florida's runaway home foreclosures problem that is hampering the state's growth and prosperity.
Officials from the attorney general's office told the Senate Banking and Insurance Committee on Tuesday that nearly all of Florida is considered to be in a high state of foreclosure and that not a lot of folks are doing much about it.
They said the foreclosure process in Florida is in total disarray.
Distressed Florida homeowners began complaining more than two years ago about problems they were having to get banks to help with loan modifications. Some mortgage companies even told homeowners they had to become delinquent before they would be considered for a loan modification.
