asianinvasian_IHB
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<a href="http://www.bloomberg.com/apps/news?pid=20601109&sid=aOluOO8Vy0gc">http://www.bloomberg.com/apps/news?pid=20601109&sid=aOluOO8Vy0gc</a>
Lenders Overwhelmed by Foreclosures Let Delinquent Borrowers Stay in Homes
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Trooper_IHB
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<em>The civil court in St. Lucie County, Florida, is getting about 44 foreclosure cases to file every day. That's the same number it averaged in a typical month in 2005, said Clerk of the Circuit Court Ed Fry.
``It's pretty overwhelming,'' he said.
Fry said he has 12 full-time employees and two temporary workers he just hired handling nothing but foreclosures. Still, the 50-page filings sit in cardboard boxes for three weeks before the court staff can process them, Fry said. Then it takes another two months to get a date on the court docket, he said. </em>
Wow, that's quite a story. Letting them stay in the house makes some sense, but how do they handle the liability aspect ? What if the bank is now the owner, and the now squatter falls and breaks his ankle inside the house? Can he sue the bank? Hmmmmm. That's the only real downside I see in this.
``It's pretty overwhelming,'' he said.
Fry said he has 12 full-time employees and two temporary workers he just hired handling nothing but foreclosures. Still, the 50-page filings sit in cardboard boxes for three weeks before the court staff can process them, Fry said. Then it takes another two months to get a date on the court docket, he said. </em>
Wow, that's quite a story. Letting them stay in the house makes some sense, but how do they handle the liability aspect ? What if the bank is now the owner, and the now squatter falls and breaks his ankle inside the house? Can he sue the bank? Hmmmmm. That's the only real downside I see in this.