State of Florida Stops Bank Foreclosures for 45 Days
December 2, 2008: In an effort to help homeowners facing impending foreclosures the Florida Bankers Association and Florida’s credit unions have agreed to stop all foreclosures for the next 45 days. Governor Charlie Crist called a press conference today to make the announcement. Crist and the head of the Florida Bankers Association commented not all of the nearly 500,000 already in foreclosure proceedings would be helped by the temporary suspensions. Crist said last week he was considering an executive order to stop foreclosures but it would only save homeowners who were using the home as their primary residence and had the state homestead exemption who need help. Chris was quoted as saying, “This is to help people in a time of need. This is not for somebody who went and bought a bunch of condos in South Florida on the spec market.”
