Mortgage Moratorium
Mar 25th, 2009 by Vinny
This is a current resolution they are working on, the ban all foreclosures. This would be very interesting, not sure how it helps anyone.
- Resolved, That it is the sense of the House of Representatives that–
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- (1) the President of the United States should declare a national residential mortgage foreclosure emergency and, through such declaration, encourage the States, by use of their police power, to enact a moratorium on residential mortgage foreclosures similar to the moratorium enacted by the State of Minnesota in 1933 and upheld by the Supreme Court of the United States in Home Building & Loan Association v. Blaisdell (290 U.S. 398 (1934)); and
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- (2) the States should exercise such power and enact such a moratorium.
