Title IV of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), provides mortgage relief to homeowners with federally backed mortgage loans. The CARES Act allows eligible borrowers to request forbearance on loan payments for six months, and then request an additional six month forbearance period. The Act also…
In recognition of COVID-19’s impact on the ability of Floridians to make mortgage and rent payments, Florida Governor Ron DeSantis issued Executive Order #20-94 on April 2 suspending the ability of mortgage lenders and landlords to bring actions for foreclosure or eviction for a period of 45 days from the date of the…
Following is a video of a short conversation I had this morning with my colleague James-Allen McPheeters about federal stimulus availability for small businesses, independent contractors, and sole proprietorships. For more information on these programs, please contact James-Allen. Keep in mind that aid currently available can be handled directly through the Small Business Administration or with…
Given widespread financial hardship due to COVID-19, commercial landlords are receiving requests for relief from tenants unable to pay the next month’s rent. Legally, landlords are probably justified in refusing to abate or defer rent, though this issue is far from settled and ripe for future litigation. A tenant in…
Uncertain times lead to unanticipated concerns, and we grapple for clarity where none seems to exist. The most obvious question on many agents’ (and clients’) minds is whether the “Force Majeure” provision of the FAR/BAR contract allows a party to cancel. In a word, no, at least not initially. Section…