McClure Proposes Sheriff Sale Moratorium in Northampton County

At Thursday's county council meeting, Lamont McClure introduced a resolution that directs the county executive to impose a ninety (90) day moratorium on Sheriff's Sales. That's an idea I suggested myself in early May.

I never expected anyone to take me seriously.

McClure argued that a "segment of the middle class" is being "crushed" by the home mortgage crisis. He acknowledged some of us "have made bad bets," but many more of us are victims of predatory lending. To back up that point, he noted that 70% of the people with adjustable rate mortgages would have qualified for a fixed rate. A temporary moratorium, followed up by a conciliation process between homeowners and lenders, would give us a "little more breathing room."

Ron Angle, however, had a completely different view. "I'm baffled as to how government can break a legal document," he said, referring to recorded mortgages. He claimed the last thing a bank wants is our houses, but called a sheriff's sales a necessary "cleansing mechanism." Well, if a home is the last thing a bank wants, it should be willing to sit down with the owner. Finally, Angle argued that gas prices are what are really killing us. "You want to know what will finish people off? It's $4.50 per gallon gas."

At the urging of Peg Ferraro, McClure's resolution was tabled so that county exec John Stoffa could research whether he has the authority to impose a conciliation process. Courts supervise foreclosure proceedings, so it would be necessary for judges to adopt local rules requiring a sitdown. That's been happening in Philly. It's also being considered in Bucks and Allegheny County.

Update: Both The Morning Call and Express Times report this proposed moratorium. The Morning Call distinguishes sheriff sales from tax sales, but many properties are listed for sheriff's sale because of unpaid taxes. Portnoff, a private tax collector, does that all the time.