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The Moratium on Foreclosures to be lifted after the Election? Fact or Fiction

Real Estate Broker/Owner with WHISTLE STOP REALTY LLC

It is being reported that the moratium on foreclosures will be lifted if Republicans take office. I can find no documantation to validate this comment left on an REO Group Blog. Is this a fact or a ploy to sway votes in the upcoming election. As a realtor who lists almost exclusively REOs, this is like dangling false hope without facts to back it. To some of us, this foreclosure situation can make or break our business. Has anyone come across any verifiable facts that the current moratium on foreclosures will be lifted after January 1, 2011 or is this just a rumor? I have found no link between the current foreclosure moratium and the Democrats, but then again, I am not a political person. Maybe someone could enlighten me as to how the two are connected.

Bill Carroll
Corcoran Real Estate - Westhampton, NY

Carol, I do believe there are conspiracies, but this one sounds ludicrous to me.

Oct 11, 2010 11:32 PM
F. "Cheetah" Currier
Keller Williams Peace River Partners Realty - Punta Gorda, FL

Carol:  The moritorium was not put in place by the government, it was a decision by the lenders. I doubt very much if this is on either the Democratic or Republican adjendas to garner votes. 

Oct 11, 2010 11:37 PM
Fernando Herboso - Associate Broker MD, & VA
Maxus Realty Group of Samson Properties - Clarksburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

I'm sure that there  is a lot of political games with foreclosures. . .no one really knows. .

Oct 11, 2010 11:43 PM