The coronavirus pandemic has created unprecedented financial challenges all across the United States. Business owners are struggling to stay afloat, unemployment has hit record levels, and many families are struggling to pay the bills. Evictions and foreclosures are among the biggest financial concerns of 2020. Unfortunately, some experts believe that Florida renters and homeowners will be hit particularly hard in the housing market. Learn more about what the experts expect, how to protect your family, and what an experienced Florida real estate lawyer can do to help you prepare for the challenges ahead.
What’s Ahead For Florida Renters and Homeowners
Spectrum News 13 reports that Florida leads the nation in likely evictions and foreclosures, as predicted by the U.S. Census Bureau. Its Household Pulse Survey examined adults living in households that are not current on rent or mortgage payments. Of these, 52 percent in Florida were either somewhat likely or very likely to face eviction or foreclosure in December and January. Arkansas was a close second at 49 percent. (It is worth noting that this study has a high margin of error, which in Florida is 12.8 percent.) Part of this high rate is due to the expiration of eviction and foreclosure bans. Rules from the CDC and FHA expire on December 31, 2020. That means that even those who are protected now will be subject to court action in 2020. So what should renters and homeowners do? There are many financial aid and legal assistance programs available throughout Florida. An experienced real estate lawyer can help you access the programs that are right for you. An attorney can also help negotiate a “workout” with your landlord or mortgage lender. In many cases, these creditors would prefer to work out a payment system rather than incur the costs of eviction or foreclosure (which are substantial).Seek Help from a Casselberry and Oviedo Eviction Lawyer in Florida
Call 407.452.4918 to schedule your free consultation with an experienced Casselberry and Oviedo real estate attorney at Quattrocchi and Torres.