Bill would bring year long moratorium on foreclosures
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Bill would bring year long moratorium on foreclosures

Date: February 12, 2009
By: Rebecca Beitsch
State Capitol Bureau

Intro: A new bill introduced in the senate could bring foreclosures to a screeching halt. Rebecca Beitsch (b-EYE-ch) has more from the capitol. RunTime:0:41
OutCue: SOC

With the high number of foreclosures across the nation, one St. Louis County State Senator has introduced a bill that would put a year long moratorium on foreclosures in the state. Democrat Joan Bray said her bill is aimed to keep more people in their houses during difficult times.

 

Actuality:  BRAY1.WAV
Run Time: 00:10
Description: First of all it establishes a year long moratorium on foreclosures to sort of help people get their house in order so to speak, and to not have foreclosures.

Missouri Bankers Association spokesman Bill Ratliff had a mixed reaction to the bill, saying he was not sure bankers would be able to remove people that are damaging houses in foreclosure.

From the capitol, I'm Rebecca Beitsch, 1120 KMOX News.

Intro: A new bill introduced in the senate could bring foreclosures to a screeching halt. Rebecca Beitsch (b-EYE-ch) has more from the capitol. RunTime:0:39
OutCue: SOC

With the high number of foreclosures across the nation, one St. Louis County State Senator has introduced a bill that would put a year long moratorium on foreclosures in the state and increase the foreclosure process from about 30 days to around 90.

Missouri Bankers Association spokesman Bill Ratliff said this may not be good for some people with mortgages.

 

Actuality:  RATLIFF1.WAV
Run Time: 00:08
Description: It can be fairly quick in Missouri, but because of that bankers and other lenders will work with you till the last minute to try to prevent foreclosure.


Ratliff said that in states with longer processes, bankers move for foreclosure at the first sign of trouble.   

 

From the capitol, I'm Rebecca Beitsch, 1120 KMOX News.