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: CL&P BlogMinnesota Foreclosure Freeze Vetoed
By Alan White
Minnesota governor Tim Pawlenty vetoed a bill that would have delayed residential foreclosures on subprime and negative amortization loans. The bill would have allowed owner-occupants to delay foreclosure by up to one year, by paying at least 65% of their current monthly payment. This was the first state legislative attempt to enact a moratorium in the current crisis. It will be interesting to see whether Senator Obama, speaking in Minnesota tonight, has any comment. Pawlenty has apparently been mentioned as a possible running mate for Senator McCain.
Full post as published by CL&P Blog on June 03, 2008 (boomark / email).
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