Over the past few weeks, we’ve been subjected to information overload on the mortgage foreclosure freeze.
The news started as a trickle nearly one month ago when Ally GMAC announced it was cutting off mortgage foreclosures in 23 states. More information started flowing as more big banks, namely Chase, Bank of America® and PNC, curtailed foreclosure sales in those same 23 states. In the past week, the news cycle sped up even further as Bank of America®
stopped foreclosures in all 50 states and attorneys general in every state joined a group investigation to evaluate banks’ foreclosure practices. The federal government has not issued a nationwide moratorium, but individual states could begin barring foreclosures.
Among all the government statements and bank press releases, it can be tough to put a human face on the foreclosure crisis. PBS is trying to do just that with its NewsHour series on the foreclosure crisis. The first segment aired Thursday, with one more to follow Tuesday, Oct. 19, and another Wednesday, Oct. 20.
You can view the first segment below: