Foreclosure Halt Could Hit Investors

A U.S.-wide foreclosure moratorium could penalize investors and make new home loans more expensive and harder to obtain, an investor group and industry experts warned on Monday.

Temporary pauses in foreclosures have expanded among major lenders as the courts, lawmakers and state attorneys general investigate whether banks supplied shoddy paperwork to support evictions of delinquent borrowers.

While homeowners may cheer efforts to get tough with banks, an increasing number of analysts warn that that a blanket ban on foreclosures could further hobble the economy.

A major securities lobbying group said on Monday that a U.S.-wide foreclosure moratorium would be "catastrophic."

Read Full Article from ABC News

- Posted: 2010-10-11 17:19:21

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