As Florida Gov. Ron DeSantis Once Again Extends Foreclosure Moratorium, Residential Tenants & Single-Family Mortgagors Look Ahead to the Future
As Florida Gov. Ron DeSantis Once Again Extends Foreclosure Moratorium, Residential Tenants & Single-Family Mortgagors Look Ahead to the Future Aug 28, 2020 On July 29, Florida Gov. Ron DeSantis issued Executive Order 20-180, extending the moratorium on evictions and foreclosures in Florida until September 1 due to the coronavirus pandemic. Failing to do so could have left thousands of Floridians homeless, as, unfortunately, many expect a deluge of foreclosures and evictions once the moratorium is lifted. In fact, according to reports, a number of landlords have already filed paperwork to evict their tenants once that the ban is lifted. Similarly to the original Executive Order (20-94), relief in these circumstances is limited to residential tenants and single-family mortgagors adversely affected by COVID-19, and does not cover commercial tenants. Still, state politicians called on DeSantis to put in place additional plans to ensure long-term housing security – both during and after the pandemic – for mortgagors and residential tenants, as they claim that the governor has ignored important proposals necessary to assemble a more sustainable plan for Florida. Foreclosure Laws & Practices in Florida In addition to the impact that a foreclosure has on the mortgagor, the laws in Florida allow lenders to pursue mortgagors for the difference between the mortgage debt on the property and what they are able to sell the property for in a foreclosure sale, as well attorneys’ fees and costs. As a result, decades later and even after a property’s value has dropped far below the amount borrowed to purchase it, mortgagors are often still paying it off, even as this number continues to grow. This is in addition to mortgagors and other property owners having to deal with banks sometimes engaging in unlawful practices when they take possession of property, which can sometimes include forcing a renegotiation of the contract and/or delaying a repossession, fraud, and/or questionable loan foreclosure and origination proceedings. In some cases, banks have even had to pay out settlements for foreclosure abuse as a result. Federally-Backed Mortgages Meanwhile, the moratorium on all properties owned, insured, or overseen by the Department of Housing and Urban Development, the Department of Agriculture, and Department of Veterans Affairs, Fannie Mae, Freddie Mac, and the Federal Housing Administration was extended through August 31, and one Congresswoman has called on these entities to extend the moratorium through December 31. Federally-backed mortgages represent an estimated 70 percent of all outstanding single-family homes, therefore, this would make a significant impact on a number of homeowners and residential tenants. If You Are Facing Foreclosure in Florida and Need Help, Contact Our Lawyers Today What a number of banks may not realize is that, due to the current crisis, US homeowners are not only struggling to pay their mortgages now, but will likely be struggling even more in the future, and lenders are unlikely to see the money they have lent out. As a result, foreclosing on properties may not be financially beneficial even for the banks, as investors could, in some cases, lose more money than they lent because work done to repossess houses and then sell them can sometimes cost more than it would to simply give them away. In order to avoid getting themselves into this bind, banks need to mitigate a breach of contract and any loss, which is required by common law anyway, as well as just representing good business practices. At HD Law Partners, we represent homeowners facing foreclosure proceedings. If you or a loved one is facing foreclosure, speak with our Tampa foreclosure attorneys today. We serve clients in Sarasota, Tampa, and surrounding areas. Resource: thedailybeast.com/how-i-bought-a-house-and-joined-the-foreclosure-generation maloney.house.gov/media-center/press-releases/maloney-calls-on-federal-agencies-to-immediately-extend-foreclose flgov.com/wp-content/uploads/orders/2020/EO_20-180.pdf Foreclosure Crisis Looms as Moratorium Set to Expire: What Your Options Are Posted in Foreclosure Defense | No Comments » Connect with us Archives May 2026 April 2026 March 2026 February 2026 January 2026 December 2025 November 2025 October 2025 September 2025 July 2025 June 2025 January 2025 January 2024 December 2023 November 2023 October 2023 September 2023 August 2023 July 2023 June 2023 May 2023 April 2023 March 2023 February 2023 January 2023 December 2022 November 2022 October 2022 September 2022 August 2022 July 2022 May 2022 April 2022 March 2022 November 2021 October 2021 September 2021 August 2021 July 2021 May 2021 April 2021 March 2021 February 2021 January 2021 December 2020 November 2020 October 2020 August 2020 July 2020 June 2020 May 2020 April 2020 March 2020 February 2020 January 2020 December 2019 November 2019 October 2019 September 2019 August 2019 July 2019 June 2019 May 2019 April 2019 March 2019 February 2019 January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017 July 2017 June 2017 May 2017 April 2017 March 2017 February 2017 January 2017 December 2016 November 2016 October 2016 November 13 Categories Alimony Appellate Arbitration Auto Accidents Auto Insurance Business Corporate Business Insurance Law Child Custody Child Support Criminal Law Divorce Family Law FEMA Insurance Payments Florida’s Mandatory 2‑Hour Legal Professionalism CLE: Foreclosure Defense Fort Myers Hurricane Insurance Attorney General Guardianship HD Law Partners Service HOA/Property Management Homeowners Association Homeowners Insurance Hurricane Claims Hurricane Insurance Insurance Bad Faith Insurance Claims Insurance Defense Insurance Litigation Landlord Tenant Law Enforcement Liability Loan Modifications Mold Water Damage Parental Rights Paternity Personal Injury Premises Liability Law Prenuptial Agreements Private Security Property Distribution Property Owner Law Sarasota Insurance Litigation Attorney Slip Fall Tampa Business and Corporate Attorneys tampa family attorney Tampa Insurance Attorneys Timeshare Timesharing Uncategorized HD Law Partners is proud to be your trusted full-service law firm Quick Links Property & Casualty Business & Corporate Litigation Family Law Contact Us Careers Get In Touch 2002 North Lois Avenue Suite 510 Tampa, FL 33607 813-253-5333 Contact Us