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Foreclosure Summit

April 8th, 2009 by Mike Vasilinda

Florida CFO Alex Sink is calling the states twelve largest mortgage lenders to a summit in Tampa on April 20th. Sink and legal aid lawyers have found it impossible to negotiate with lenders because loans are often sold and resold. The CFO says the goal is to keep people in their homes.

What we found in this initial process, is that even the lawyers are having a hard time finding who to talk to,” Sink said. “What we have asked each of the dozen lenders is to identify an ombudsman or point person who can be that one single point of contact for our lawyers. And to come together in this meeting in Tampa that were going to have in a couple weeks and discuss how we can work more cooperatively and better together so that we can achieve our goal, which is to help Florida families.

Bankers have said they want to talk with people before going to foreclosure, but the sale and resale of mortgages is making the goal almost impossible. Sink hopes the summit will solve part of the problem.

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