Disclaimer: I am not a lawyer. I am
only publishing my interpretation of my situation. You should seek your
own legal representation for your own particular
situation. Do not rely on my
opinions or statements for your own purposes as state
and local law varies as do individual circumstances.
The State of Florida has suspended all new foreclosures
for 45 days starting the first part of December. Does this
really do anyone any good? I do not think so. It just defers the
foreclosure. Sure, families will get to stay in their homes for
an extra little bit of time. That is nice over the holidays, but
what will they be doing over those holidays... they will be
worrying and fretting about what they are going to do in January
when the suspension ends and foreclosure proceedings resume.
Nothing has changed.
For me, there are also
added expenses. I have to pay my condo association dues for
another month. My foreclosure sale date had been set for the
third of December. At that date, the ownership would have
returned to the bank; and I would no longer be liable for
association dues or utilities. I did have the utilities
disconnected as I had no idea that this suspension was coming
up. So now the property has no power... I hope it does not get
below freezing here over the next month and the pipes bust.
I suppose there could
some situations where a house is near foreclosure and the owner
just needs a little extra time to come up with the money to
catch them up on the payments - perhaps they just landed a new
job and the first paycheck is coming in two weeks or something
like that (personally, I am hoping for the lottery). Still, I
think these situations are rare; and the vast majority of
foreclosures will resume in January and January will see double
the number of foreclosures in order to catch up with the ones
from these 45 days that were held up.
I am anxiously awaiting
anything from the government that might actually correct the
current real estate depression, but I see nothing coming.
Nothing has made any headlines that will help me in my
situation. If you are fortunate enough to qualify for some sort
of program, congratulations. Count yourself lucky.
Perhaps these extra few
days will give some people time enough to find a good rental
apartment to move into. That is what I have done.
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