The Real Deal Miami

Foreclosures down as lenders wait for bailout

February 12, 2009 12:06PM

The Office of Thrift
Supervision called for lenders to suspend foreclosures on homes until
the Obama administration completes a plan to help borrowers reduce
payments on home mortgages. According to foreclosure listing Web site Foreclosures.com, the number of foreclosures nationally in January fell
26 percent from December to 77,694, the lowest total since
April. The decline in foreclosures
is due to the moratorium imposed last year by Fannie Mae
and Freddie Mac.