Halt Foreclosures, Say States; White House Says Wait

The ongoing foreclosure mess is wending its way into the heartland. A group of state attorneys general from as many as 40 states are anticipated to roll out an investigation of the mortgage industry as early as tomorrow in response to recent allegations that the mortgage units of major banks had filed fraudulent paperwork in thousands of foreclosures. Several of the attorneys general along with many members of Congress have demanded a moratorium on all foreclosures until the extent of the possible fraud is known. Meanwhile, today White House spokesman Robert Gibbs (pictured) warned against a widespread moratorium on foreclosures, arguing that such an action could damage the still-fragile housing recovery.
For help in today's tough housing market see AOL Real Estate's guides, including:

More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Get property tax help from our experts.

Reader Comments (4)

4 Comments / 1 Pages


Add Your Comments

Please keep your comments relevant to this blog entry.Email addresses are never displayed, but they are required to confirm your comments. When you enter your name and email address, you'll be sent a link to confirm your comment, and a password. To leave another comment, just use that password.

To create a live link, simply type the URL(including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted - no need to use <p> or <br> tags.

Compare Mortgage Rates

Mortgage Rates by Zillow