Hyde’s foreclosure work now in legislative form
04/15/2009 by Mike Sharkey Staff Writer It’s been six months since City Council member Kevin Hyde held his first foreclosure summit. The informal gathering of attorneys, bankers and anyone else associated with the issue was an attempt to quickly establish formal methods to deal with the problem that many believe is the root of the current recession. A second summit in February has now led to legislation Hyde introduced to the full Council last night. The four-page Ordinance was assigned to three Council committees. “It’s a summation of the work done in the foreclosure summits,” said Hyde, an attorney with Foley & Lardner.The bill advocates, among other things, that information be made available to those facing or on the verge of losing their homes. In addition to foreclosure prevention on the main page on the City’s Web site — www.coj.net — Hyde’s bill urges Mayor John Peyton to work with the State Legislature to provide foreclosure assistance and relief. “We are working with state legislators to tag on a foreclosure filing fee,” said Hyde. The fee, which can only be assessed by the State and not on a local basis, would be paid by those filing a lis pendens. Those fees would fund mediations, which Hyde said can go a long way towards preventing foreclosures altogether. Even if passed on the State level, Hyde said the amount of the fee hasn’t been determined. Although the Ordinance has been assigned to three committees — Rules, Finance and Recreation & Community Development — Hyde expects it to pass after just one normal bill cycle. That would entail an introduction, second reading and passage by each committee followed by a vote of the full Council. That translates to about 6-8 weeks before the bill becomes law. “I don’t see any problems with our bill,” said Hyde. “We began in November, followed up in February and have worked with the administration.” Called the “Jacksonville Foreclosure Prevention, Assistance and Relief Act,” the Ordinance will fall under the jurisdiction of the City’s Department of Housing and Neighborhoods which will refer struggling homeowners to Jacksonville Area Legal Aid. In turn, JALA will provide either legal representation or refer the homeowner to another source for resolution of their problem. One facet of foreclosure could change the way the entire state handles the problem. Hyde said the State Supreme Court is considering a law that would require mediation. If that passes — and Hyde says “there’s a pretty good chance” — it would take precedent over any local law. Given the number of foreclosures across the state and the affect those cases are having on the court system, Hyde said a statewide mandate would make sense. “They (the State Supreme Court) are charged with looking at the efficiencies of the court system,” said Hyde. “They know these cases are clogging the system.” Locally, Hyde thinks the foreclosure numbers are leveling off. “That sounds like an improvement, but we are still unacceptably high,” said Hyde, who thinks this year will still see thousands of foreclosures thanks to the adjustable rate mortgages that were so popular in 2004 and 2005 and are now coming due five years later. msharkey@baileypub.com 356-2466
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