ACORN supports Crist's call for freeze on foreclosures

11/25/08 Mitch E. Perry
WMNF Drive-Time News Tuesday | Listen to this entire show:

One advocacy group that supports Gov. Charllie Christ’s idea to put a freeze on foreclosures is ACORN, the Associated Community of Organizations for Reform Now.

ACORN is working in Florida and across the country in trying to keep homeowners having problems with their mortgages from being foreclosed.

They have also endorsed the proposal made by FDIC Chairwoman Sheila Bair to use as little as $25 billion of the $700 billion bailout to guarantee up to half of the loss that may result from re-defaults after a modification.

ACORN is also calling on Congress to enact bankruptcy protections for principal residences to allow judicial modifications.

Last week mortgage giants Fannie Mae and Freddie Mac announced that in the latest attempt to keep people in their homes during the holidays they had ordered mortage servicers and foreclosure attorneys to suspend foreclosure sales and evictions for certain properties.

comments powered by Disqus