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On July 29, 2020, the Florida Governor issued an Executive Order extending the foreclosure moratorium until Sept. 1, 2020, but also made some significant carve-outs which will allow for foreclosure files to be initiated and progress through the system. The moratorium now only prohibits the “final action” in a mortgage foreclosure actions, and only applies to single-family mortgages where non-payment is due to the COVID pandemic. It is Padgett Law Group’s reading of the amended moratorium that it would not apply to loans where the default occurred prior to the issuance of the state of emergency in Florida. Additionally, we expect different counties/judges to interpret “final action” to be either sale, certificate of title, or eviction. In summary, absent an investor restriction, a mortgage foreclosure may be initiated and moved all the way to “final action” under the amended moratorium, and in some circumstances through the sale and eviction stage. Click the image below to access our comprehensive COVID-9 response blog for additional moratorium updates and information.
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