Philadelphia Suspends Foreclosure Sales

City Council passes a resolution halting sales of foreclosed homes, for now.

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As lawmakers and administration officials wrestle over just how involved the federal government should become in the housing crisis, one big city, Philadelphia, is diving right in:

From the Philadelphia Inquirer:

With housing advocates predicting that the subprime mortgage crisis will hit the city hard in 2008, Sheriff John D. Green yesterday suspended sales of foreclosed properties for April and said he would seek court approval for an even longer moratorium.

His announcement came about 30 minutes after City Council unanimously passed a resolution calling on him to freeze sheriff's sales.

The full article is here.