Chief Justice Charles Canady requested, and Governor Rick Scott has approved a $45.6 million loan to help the Florida Court system continue to operate through March 2012. This is in addition to the already granted $54 million loan to the courts to begin the 2011-2012 fiscal year. The initial loan was granted after realizing the decline in foreclosure filings would be continuing, but with the understanding the decrease would soon come to an end and the loan would be repaid. The courts have not exceeded their budgets. Instead, there has been a shortfall in revenue due to the increase in foreclosure filings.
Currently, the Revenue Stabilization Workgroup is working towards returning the majority of the court system's funding to the general revenue source. The additional loan is just supposed to sustain the court system until this can be accomplished. Governor Rick Scott commented, "[t]he transfers should only be made as needed to cover cash deficiencies, and the loan must be repaid as soon as practical, but no later than June 30, 2012."
Contact a Florida Defense Lawyer or a Jacksonville Foreclosure Defense Lawyer today if you are facing foreclosure for a complimentary case review and to begin planning your recovery.
