Floridians are struggling to meet their mortgage payments. According to a recent piece in the Sun Sentinel, over 33% of adults in the state report they struggled meeting either their rent or mortgage payment in June and may be unable to make the payment in July. The majority of those who shared their frustrations noted that the reason for their financial struggle is loss of employment, often a result of the current coronavirus pandemic.

Leaders are taking steps to help protect homeowners. Governor Ron DeSantis has provided protection, putting in place a moratorium on evictions of renters and homeowners. The moratorium currently runs through August — though the governor has been known to extend the protections in the past.

Although often extended, the protections will eventually end. What happens then? Other communities in similar situations are discussing additional options to help homeowners in this situation. Discussions include use of a community land trust. Florida lawmakers may discuss similar options in the near future.

Regardless of the fate of these discussions, homeowners who find themselves struggling to make their mortgage payments have options. For some, a mortgage modification may help. Other homeowners may find themselves considering more extreme measures such as a short sale or a deed in lieu of foreclosure. Those who are struggling with their decision can seek legal counsel for guidance. An attorney experienced in this niche area of real estate law can review your situation and discuss the benefits and risks of these options, as well as other options that may offer relief.