Governor Crist along with representatives from The Florida Bankers Association and the Florida Credit Union League announced at a press conference that there would be a 45 day reprieve on foreclosure filings.  In addition there would be no foreclosure sales scheduled during this same period.  Is this a good thing?  If you’re one of these people facing down a foreclosure it surely is welcome news and gives you a bit of breathing room during the holidays.  Still, I don’t know that it makes a lot of difference in the grand scheme of things.  It seems a win-win to me for the banks because it makes for great press and at the same time stops them from wasting time auctioning off properties during a time when most potential buyers are likely focused in on the holidays. 

Alex Sanchez, president of the Florida Bankers Association, also took the time to encourage anyone in the Florida mortgage market that is staring down a foreclosure to actively try to renegotiate with their lender and to work out a repayment plan. 

If you’re starting to stumble, if you feel like you might be in trouble in the near future, please give us a call.  You’ll have more options being proactive as opposed to reactive.  We’ll go over your options, and even if we can’t help you we’ll recommend other resources that might be able to assist you with your Florida mortgage needs.  Give us a call, leave a comment/question or email us.  We’ll do what we can to help.