Housing Debacle

“I suspect that we are coming to the end of the housing downturn, as applications for new mortgages, the most important series, have flattened out. I think that the worse of this may well be over.” - Alan Greenspan, October 1, 2006

Saturday, December 20, 2008

Lee County, Florida speeds up foreclosure cases; 25,000 backlogged

Next week the circuit court in Lee County launches its assault on more than 25,000 foreclosures backed up in the system.

Two circuit and four senior judges will start the process with a docket of 902 foreclosure cases Thursday. A recent typical day might have about 100 or more, said Wendy McCabe, civil supervisor. 

During the next three to four months, judges will try to work down the buildup caused by more than 2,000 foreclosure filings per month.

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