The author of this article, Michael Ciardi, is a long time friend of the firm. Understanding interest rates and bank lending seems simple, it’s not. In this article Michael does a great job explaining how the money flows from the fed to the open market. I hope you enjoy the article, I know I did. [..]
It goes without saying that we are currently experiencing a global pandemic. This historic threat to public health is unprecedented and as such governments are implementing rare actions including extending a moratorium on evictions. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) has extended a temporary moratorium on evictions through December 31, 2020. [..]
The Uniform Commercial Real Estate Receivership Act (UCRERA) – Creates uniformity for the process by codifying Florida common law.
Florida has adopted the Uniform Commercial Real Estate Receivership Act as of July 1, 2020 This act codifies the receivership appointment process and provides uniformity to the process of appointment and the powers of a receiver The appointment of the receiver is within the courts discretion and there are several governing factors for how the [..]
Governor Ron DeSantis announced that Florida is to receive $250 Million for Affordable Housing Coronavirus relief.
Florida is to receive $250 million of funding from the federal CARES act, aimed at providing relief for renters and mortgage holders across Florida that have been impacted by COVID-19 $120 million is allocated to provide for short term rental assistance for families residing in affordable housing that have been affected by COVID-19 A separate [..]
Order, issued by Florida Governor Ron DeSantis, restricts some kinds of real estate evictions and mortgage foreclosure actions.
The Governor of Florida has extended the Executive Order preventing residential eviction actions from proceeding in Florida courts until September 1, 2020 The order only prevents eviction and foreclosure actions from proceeding in court provided the tenant or mortgagor can show that the inability to pay is due to the COVID-19 pandemic; rent and mortgage [..]
A second coronavirus emergency aid package was signed into law, named the Families First Coronavirus Response Act. This act responds to the growing health and economic crises with provisions for paid sick leave, free testing and expanded unemployment benefits. This legislation allocates roughly $8 billion for coronavirus prevention, preparation and response efforts. Here’s a breakdown [..]
Economic Injury Disaster Loans (EIDL) EMERGENCY GRANT through the Small Business Administration (SBA)
Overview – The (EIDL) Economic Injury Disaster Loan Grant Offers up to a $10,000 grant to businesses as an operating advance through the SBA. The SBA is now offering this grant as part of their new EIDL loan application process. There are a lot of misconceptions swirling around the Economic Injury Disaster Loan (EIDL). Rodriguez [..]
Authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone. The loan amounts will be forgiven as long as: The loan proceeds are used to cover payroll costs, and most mortgage interest, rent, and utility costs over [..]