Two Lenders Halt New Foreclosures For 45 Days

Florida Foreclosure The Florida Bankers Association and the Florida Credit Union League voluntarily agree not to file new foreclosure petitions on primary homes for the next 45 days.

by The Associated Press

Published: Mon, December 01, 2008 - 11:52 am CST

TALLAHASSEE, Fla. (AP) - Two groups of Florida lenders will
voluntarily agree not to file new foreclosure petitions on primary
homes for the next 45 days.
The Florida Bankers Association and the Florida Credit Union
League made the announcement Monday in a press conference with Gov.
Charlie Crist. They also volunteered not to schedule foreclosure
sales during that period.
Florida has the country's third highest foreclosure rate, and
the grace period is a recognition of tough economic times. It
doesn't affect foreclosure proceedings that have already begun and
doesn't apply to businesses or second homes.
Florida Bankers Association President Alex Sanchez encouraged
anyone who is having trouble paying their mortgage to meet with
their banker to try to work out a repayment plan.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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butterflykisser101 Says:

Mon, Dec 01, 2008 at 2:29 pm

I agree…and I think I am about to feel the pain.

rosepetal Says:

Mon, Dec 01, 2008 at 2:28 pm

i just heard alabama has one of the easiest foreclosure laws in the country. that is so sad. if banks and lenders would only work with home owners it would save the tax payers a lot of money. some income coming in from a home is better than the house just setting there. i would never buy a forclosed home. it would haunt me.