Florida Banks, Credit Unions Halt Foreclosures

Florida banks and credit unions have agreed to voluntarily halt foreclosures actions statewide on primary residences for the next 45 days under an arrangement negotiated by the state’s Gov. Charlie Crist.

The industry associations for the 312 banks and 188 credit unions based in Florida announced the decision on Monday, Dec. 1.

Gov. Crist had been lobbying industry leaders since October on such a deal, going as far as to announce Thanksgiving week the potential for a 90-day foreclosure moratorium.

In the end, the Florida Bankers Association and the Florida Credit Union League agreed to a 45-day reprieve whereby state-based institutions and credit unions will voluntarily halt new foreclosure actions and sales through the middle of January on properties that are primary residences, or homesteads.

“Foreclosure moratoriums are a short

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