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Foreclosure Moratorium through Holiday Season

Gov. Crist Seeks Foreclosure Moratorium through Holiday Season from Lenders

Florida Governor Charlie Crist met with major lending officials recently to discuss the possibility of initiating a foreclosure moratorium for struggling homeowners throughout this upcoming holiday season. In the conference last Tuesday, Gov. Crist implored bankers to assist homeowners with rising rates of foreclosure in the state of Florida. Currently, Florida has the third highest rate of foreclosures amongst all state in the country.

The banking lobbyist groups agreed to negotiate terms of a moratorium with private homeowners, however, declined to assist speculators and other commercial real estate interests embroiled in the foreclosure crisis in Florida. Recently, large mortgage lenders Fannie Mae and Freddie Mac have agreed to cease foreclosure proceedings and evictions throughout the holiday season until January 9, 2009, however, other lenders have not followed suit as of yet.

In the near future, Governor Crist will meet again with major lenders in Florida to discuss a timetable for the moratorium this holiday season. If you or someone you know is having trouble with foreclosure proceedings on their home, contact a foreclosure lawyer in Florida today.