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What Happens After Foreclosure Moratorium Ends

Posted by Sami Thalji | Aug 16, 2021 | 0 Comments

Interesting article from US News regarding what to expect now that the foreclosure moratorium has expired. Currently 1.75 million homeowners are in forbearance with over a million of those likely to be seriously delinquent. The article references the fact that since people have equity that banks will be willing to work with them and restructure their loans. However, our experience with the mortgage and banking industry leads me to believe that many of these consumers will be pushed into foreclosure by these banks. Between the bad advice people receive from the internet and the mortgage servicers unwillingness to truly help anyone in an efficient manner it looks like foreclosures could be a bigger issue than these articles give it credit for. Another interesting point is evaluating just how much equity people actually have in their property. If the Florida real estate market is 20% overvalued, as many experts have estimated, then many of the homeowners still in forbearance may not have as much equity as they are being led to believe. It is still too early to tell which way this will go, but Florida homeowners in forbearance should keep their eye and ears open and consult with Florida Consumer Lawyers to discuss their options. 

About the Author

Sami Thalji

Sami Thalji is a native Floridian, born in Clearwater and raised in St. Petersburg, Florida. Sami graduated from Osceola High School in Seminole, Florida before attending and receiving both his Bachelor of Science and Juris Doctor from the University of Florida in Ga...

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