The details of the foreclosure mess are ugly and complicated. The politics of it are even worse. The calculus is clear for most Democratic incumbents, especially those in tight races like Senate Majority Leader Harry M. Reid: Nothing could be worse on the eve of elections than images of people being booted out of their homes by big banks that have relied on sloppy, if not fraudulent, paperwork. But reviving the economy requires repairing the housing market, which won’t happen until foreclosed properties and delinquent mortgages are dealt with. So the White House, which is looking past the midterm elections, has been restrained. Housing and Urban Development Secretary Shaun Donovan wrote over the weekend that “a national, blanket moratorium on all foreclosure sales would do far more harm than good, hurting homeowners and home buyers alike.”
Foreclosure freeze leads to uneasy politics for Democrats
October 19, 2010, 10:59am
Jason Philyaw was a reporter with HousingWire through mid-2012.see full bio
Most Popular Articles
Why housing demand is up and inventory is down in 2026
Pending sales rose to 75,856 vs 72,039 in 2025 as inventory turned negative year over year with mortgage rates near 6.58%.
Jun 13, 2026
-
HUD tests a new Operation Breakthrough for today’s housing crisis
Jun 23, 2026 -
SERHANT. expands into Texas with 13 founding agents
Jun 23, 2026 -
Builders planned for undersupply, now demand is the swing factor
Jun 23, 2026 -
Trump abruptly delays signing of 21st Century ROAD to Housing Act
Jun 24, 2026 -
Fannie Mae to expand title pilot program, Pulte says
Jun 24, 2026
Latest Articles
BOK Financial’s Michael Merritt breaks down ROAD to Housing Act impact on homebuyers
Michael Merritt, BOK Financial’s senior vice president of customer care and default mortgage servicing, told HousingWire the bill represents a “good start, but not everything.”
Jason Philyaw was a reporter with HousingWire through mid-2012.see full bio