The announcement follows that of Independent Bank on Monday committing to a three-week moratorium on home foreclosures while it awaits details of President Barack Obama's $50 billion foreclosure prevention program.
Citigroup Inc., JPMorgan Chase & Co., Bank of America Corp., Morgan Stanley, and Wells Fargo & Co. also agreed to suspend foreclosures.
House Democrats, trying to bring a bit of relief to struggling homeowners. You can guess what side of the debate the Senate Republicans fall on, can't you? Hint: It's not you.
"I would like to see the details. I guess it gives folks a place to live for 90 days. But what happens to the person who is footing the bill?
"It seems a little bit short on dealing with the issue -- the people who don't have jobs. They need a job to pay their mortgage."
Jansen said the measure "feels a little political" as the first significant piece of legislation launched this year by the House.
Yes, from the people who's first "significant piece" of legislation this year was to increase our budget deficit another $1 Billion with-a-capital-B dollars for business tax cuts (BTW, how is everyone enjoying those cuts to schools? Want more? The Senate will obviously be happy to oblige), now they think that saving people's homes, if even for a time, is "political".
I think the only thing left to do at this point is to get the Republicans a bigger shovel so they can dig their own "political" graves even faster.
UPDATE: The Freep has the details of the House Dem plan.