Foreclosure Freeze, Hurt or Help?
Foreclosure Moratorium, Will a Foreclosure Freeze Help or Hurt?
No Foreclosure Moratorium Yet...State Attorneys General Puts Lenders On Notice:
All 50 State Attorneys General today put the lending industry on notice that they will not tolerate unlawful foreclosure activities, but stopped short of a foreclosure moratorium. Some lenders have imposed a self regulated moratorium on foreclosures in response to claims of improprieties in the process.
The actions of the Attorneys General do not constitute a foreclosure moratorium, and none of the states have imposed one. The White House has even gone on record as being against a foreclosure moratorium, saying that many foreclosures are being processed legally.
Regardless of state or federal action, it appears that a contraction in the system will probably prolong the housing slowdown, and the economic recovery. While distressed home owners may remain in their homes a little longer, foreclosures will continue... Read More about a possible foreclosure moratorium at the JBLM Real Estate Guide.