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Bankruptcy

: Credit Slips

Foreclosures: What About the States?

By Adam Levitin

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Here's something that's puzzled me:  no state has yet to enact any serious foreclosure moratorium.  In the 1930s, these moratoria sprouted up all around the country, and foreclosure rates (but not default rates), were much lower than today.   California imposed a 90 day moratorium, but that's not going to do much.  Why haven't Nevada or Arizona enacted a more serious foreclosure moratorium?  What's the political economy story in those states?  Any thoughts?

Full post as published by Credit Slips on March 05, 2010 (boomark / email).

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