Clinton calling for foreclosure ban: Report
The Democratic presidential candidate will ask for a 90-day ban on foreclosures, plus a five-year freeze on adjustable mortgage rates.
NEW YORK (CNNMoney.com) -- Presidential candidate Hillary Clinton is expected to call for a 90-day ban on foreclosures and a five-year freeze on adjustable mortgage rates Monday, according to The Wall Street Journal.
Other Democratic candidates have proposed remedies for the home mortgage crisis. Former Senator John Edwards of North Carolina called last October for looser bankruptcy laws to shield home owners from creditors.
In August, Clinton asked legislators to ban prepayment penalties on mortgages. However, her new plan goes much further, and bears similarities to plans offered by Treasury Secretary Henry Paulson.
Paulson is expected to address the housing crisis issue in a speech Monday, but Treasury officials say he won't be announcing any interest rate freezes.