Banks to Give 45 Day Grace Period - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Banks to Give 45 Day Grace Period

TALLAHASSEE, FL (WFLX) - Governor Crist and state credit and bank leaders announced Monday a 45 day halt on foreclosures for primary homes in Florida.

This announcement impacts only new foreclosures from going forward, not people currently in the foreclosure process.

It's not clear yet exactly which lenders will join.

For a homeowner to benefit from this, they have to meet certain criteria to qualify.

They must show a need for delaying mortgage payments. Agree to a re-payment plan. They cannot have any history of mortgage fraud, and the residence must be their primary home.

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