Crist to Combat Florida Foreclosures

Here is an interesting snippet from an FAR email...

CRIST AND HOPE

Gov. Charlie Crist announced a new program to combat the rising problem of foreclosures, the Florida Home Ownership Promotes the Economy (HOPE) Task Force. Crist appointed 2007 FAR President Nancy Riley to the 13-member group, which will bring together experts in the mortgage and banking industries, as well as consumer advocates and policy experts, to review Florida’s foreclosure rate and develop an action plan. “Last year one out of every 95 households experienced foreclosure in our state with filings up more than 275 percent over the previous year,” says Florida Chief Financial Officer Alex Sink, one of the committee members. “Working with the Governor’s HOPE Task Force, my office will be focused on identifying solutions to help families work through the often confusing and difficult process of retaining their homes.” The task force will meet four times – March 3, March 19, April 2 and via conference call on April 9. Task force recommendations will be presented to the governor, Speaker of the House and President of the Senate by April 18. Crist appointed Lt. Governor Jeff Kottkamp to serve as chair.

While it appears that the rising foreclosure rate has been identified as a problem, and several of the top people in the industry will be working together to combat this issue, how will they be able to get around the inflated housing values? Only time will tell, but at least Crist is being proactive.

HWG
786 371 4431