Coral Springs Sets Up Foreclosure Hotline

By Nicol Jenkins
Editor

The cities of Coral Springs and Parkland are stepping up to the plate to halt foreclosures.
The city of Coral Springs even has its own hotline. Now residents can dial 954-344-1055 for information on saving their homes. Once dialed, a city staff member will provide residents with information for banks and loan servicing companies.

“We will supply residents with whatever resources we have in terms of information, service organizations or banks to potentially resolve the matter of foreclosures,” said Coral Springs Mayor Scott Brook.   

Foreclosures across the cities, in fact the state and nation-wide, have doubled this year and may continue to rise, officials say.
In Coral Springs alone, there were 359 bank owned properties as of two weeks ago, according to Assistant City Manager Erdal Donmez. In 2007, there were 183. As for pre-foreclosures, it went from about 859 last year to about 2,187 a few weeks ago.

The City of Parkland has also experienced an increase in foreclosures due to the depressed real estate market and the economic downturn. Many of these foreclosures are forcing properties to be sold at a reduced rate called a short sale.

Believing that it is better to have properties sold to owners willing to maintain property and pay real estate taxes, the Parkland Commission has implemented streamlined procedures for property owners to seek a mitigation of code enforcement liens. Staff now has authority to recommend a reduction in a lien under certain conditions.

Coral Springs has also passed an ordinance to require lenders to register with the city once property is abandoned. In addition, the city of Coral Springs and Tamarac will host a foreclosure solutions workshop August 23 from 10 a.m. to 2 p.m. at the Coral Springs Center for the Arts.
“We don’t want residents to give up. We want to find ways to resolve the issue,” said Brook.