The Current COVID-19 Ban on Foreclosures in Florida
Homeowners across Florida have been hurt by the coronavirus pandemic. In addition to physical hardships, many Floridians have also been subjected to economic hardships. Unemployment has spiked throughout the pandemic. Reduced hours, pay cuts, and other measures have hurt workers as well. All of these factors have made it difficult for many homeowners to stay current on their mortgage obligations. Luckily, there are legal protections that help homeowners during these difficult times.
Florida Homeowners Are Protected By Federal Government Actions
After an initial foreclosure and eviction ban was passed on March 18, it became clear that the effects of the coronavirus pandemic would last longer than almost anyone had expected. Forbes reports that, in August, the Department of Housing and Urban Development announced that it was extending the moratorium on foreclosures of federally-backed mortgages. This applies to the vast majority of homeowners in the United States. Almost every traditional mortgage in the United States is backed by Fannie Mae or Freddie Mac.
But what about state laws? Florida currently has no law or executive order in place that will protect homeowners once the HUD rule expires on December 31, 2020.This could leave Florida homeowners without critical foreclosure protections. The governor could issue an executive order, or the state legislature could issue a new law that prohibits foreclosures in state courts for a certain period of time. Or the federal government could extend protections on federally-backed mortgages. It is important for Florida homeowners to consult with an experienced foreclosure lawyer who is up to date on all changes in the law and can help defend homeowner rights.
Experienced Casselberry and Oviedo Foreclosure Attorneys to Protect Your Legal Rights
The experienced foreclosure attorneys at Quattrocchi and Torres have helped many Florida homeowners understand their legal rights in foreclosure proceedings. Call 407.452.4918 or contact us online for your free consultation.