Alaska Should Join Other States: Call for Moratorium on Home Foreclosures
6 January 2008Massachusetts became the first state to impose a moratorium last year. Without action, in the next two years, as many as 100,000 homes would be subject to foreclosure in New York. Nationwide, home foreclosure filings have increased an incredible 68% over the period of just one year. The rate is predicted to increase even further this year as payments rise on roughly 1 million home loans. Movements are also underway in Michigan, Ohio and Texas to adopt foreclosure moratoriums. The State of Alaska currently has housing which is less affordable than it has been for at least 15 years. Shouldn’t we be giving serious consideration to joining the other states and calling for a moratorium on home foreclosures? An excellent article on this subject can be found on the Progressive States Network site.
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