As 2020’s summer market environment continues to pressure homeowners with mortgages, concerns over a wave of foreclosures due to lack of payment increase. Recently, protections designed to stay off Floridian foreclosures and evictions expired.
WJXT news details how the renewed protection orders change things up.
Foreclosures now allowed in most cases
Governor Ron DeSantis revised the previous order, which put a general stay on foreclosures based around non-payment, to instead cover a certain set of circumstances. The new order protects against non-payment foreclosures provided that the tenants prove that their loss of employment, diminished wages or business income is the result of specific recent hardships.
The new order expires on October 1st.
An important caveat, reporters note, is that issuing a foreclosure is not illegal. Homeowners will need to read the summons and respond within five days as to why they cannot pay. If the reasons match with the protective order, it is illegal.
The order specifically states that nothing about the protections restrict foreclosures due to anything outside of non-payment.
Homeowners defending against foreclosure
With this more nuanced order, there may be more room for error on the parts of banks or homeowners. Whether the foreclosure is legal or not, it demands immediate action, and the situation raises questions. Is the bank in the right to issue the foreclosure? Are there extenuating circumstances that may or may not fall under the protective order? These mistakes can lead to big consequences for homeowners trying to navigate these trying times. Even though the order lasts a month, the potential legal processes may extend further. Knowing the options and examining the details can highlight solutions that fit each foreclosure case best.