State bill calls for foreclosure delay

Two state legislators have introduced a bill that calls for a one-year moratorium on foreclosures in the state. Assemblyman James Brennan, a Brooklyn Democrat, and State Senator Frank Padavan, a Queens Republican, filed the bill, one of the most aggressive responses to the subprime crisis. Brennan says more than 60 Assembly members have signed on to the bill, which is similar to the long-term foreclosure moratoriums used during the Depression. Nationally, the Bush administration has called for a 30-day moratorium.