TALLAHASSEE, Fla. – Gov. Charlie Crist joined credit union and banking leaders yesterday in introducing a voluntary 45-day halt to home foreclosures.
The governor made the announcement with representatives of the Florida CU League and the Florida Bankers Association, who will both urge their members to join the temporary moratorium.
"Legally, the Governor can’t order a moratorium, but were asking our members to join in," said Aletta Shutes, chief lobbyist for the Florida league, who appeared with Gov. Christ at yesterday’s news conference announcing the initiative. "It’s sort of a gesture by the governor to help homeowners and this goes hand in hand with the credit union philosophy of people helping people," she told The Credit Union Journal yesterday.
"This really a heads up to those people who are having trouble and kind of tells them to go out and get to know your lender and work with them," said Shutes.
''This is to help people in a time of need,'' Gov. Crist said. ``This is not for somebody who went and bought a bunch of condos in South Florida on the spec market.''
Florida has the country's third highest foreclosure rate. The grace period won’t help people already in foreclosure.
Gov. Crist also announced that the Department of Community Affairs will soon have $541 million for mortgage assistance and other financial aid to local governments that put together a plan to help homeowners in foreclosure, including $91 million for direct housing assistance.
