Monday, December 1, 2008

State Halts Foreclosures

I just read this story online in our local newspaper this evening...

TALLAHASSEE -- Gov. Charlie Crist and representatives of Florida lending institutions today announced a 45-day moratorium on home foreclosures.

Crist called a news conference with Alex Sanchez, head of the Florida Bankers Association, and Aletta Shutes, representing the state’s credit unions, to proclaim the “voluntary” respite for troubled homeowners.

They emphasized that the break only applies to homesteads, not people who took big risks in the real estate market.

“This is to help people who really need help,” said Crist. “This is not for people who bought a lot of condos on spec.”

In my town alone, we have had hundreds of people laid off recently from factories and companies closing. In my opinion, this is going to make it a nicer Christmas for quite a few people. At least they won't have to worry about finding a place to live during the holidays.

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