Bringing Foreclosure Relief and Better Standards to Floridians

The subprime lending crisis has been a major epidemic in our district. In response, Rep. Soto co-sponsored legislation entitled the Florida Foreclosure Relief Act (HB895) which would have expanded the time to hold a judicial sale in all foreclosures arising in subprime loans from 1 month to 3 months, giving valuable leverage to negotiate the loans.

Rep. Soto also co-sponsored the foreclosure fraud bill (HB643 – Ford) giving greater authority to our Attorney General to prosecute mortgage fraud and the subprime loan bill (HB 979 – Randolph), which increases lending standards/disclosures and provided for a private cause of action for violations.

Rep. Soto addresses the Florida House of Representatives,
on the foreclosure crisis, and other issues.