moratorium

Instead of a national foreclosure moratorium – an idea that has the support of President-elect Barack Obama – homeowners in trouble should just accept foreclosures and move on, lending industry insiders say. Their comments come from Housing Wire, which cited an industry survey quoting lenders as saying a national moratorium would have dire consequence for [...]

Freezing foreclosures has become a favorite tactic to slow the housing meltdown — a way to show that something’s being done to help people stay in their homes. But there’s no solid evidence these reprieves do anything more than postpone the day of reckoning.