Explanation of the Foreclosure Rocket Docket
When an individual buys a home, they have the option to pay cash for the home or obtain a loan from the bank (known as the mortgage and promissory note). Foreclosure begins when a homeowner, who has taken out a mortgage on their home, defaults on said mortgage and promissory note. Foreclosure is the legal process of the bank then instituting legal proceedings to take legal title of the home subject to the foreclosure.
The official process for foreclosure begins with the filing of a complaint and summons into the court system by the lender and serving said complaint and summons onto the homeowner. Over the years, individuals may have seen the term “Rocket Docket” materialize in relation to foreclosure courts. It is important to go over what this term means and why it is no longer in existence in today’s day and age.
A Rocket Docket is a court or tribunal that is noted for is speedy disposition of a particular type of court case. For instance, there are certain jurisdictions for Patent Law disputes that are labeled as “Rocket Dockets.” Lee County was one such foreclosure “Rocket Docket.” These courts were originally created to unclog the court system due to the many foreclosure cases arising after the economic downturn.
However, over the years, there has been much disagreement as to whether these Rocket Dockets actually provided due process for homeowners. Often, it was said that the Rocket Dockets favored the banks due to their abbreviated evidence and witness testimony procedures. Accordingly, these Rocket Dockets have been removed and replaced with a more streamlined foreclosure court process that allows the cases to move at a steady pace, while also allowing for the introduction of relevant evidence, as necessary. For example, a foreclosure case in Broward typically reaches the judge in about one (1) year, whereas, in prior years, it used to take much longer.
If you or someone you know is at risk of foreclosure, contact the attorneys of the Ticktin Law Group to assist immediately. Our attorneys offer complimentary consultations and are here to help you!