ST. PAUL (AP) - Minnesota lawmakers want to put off foreclosures for more than 15,000 homeowners who got subprime mortgages or home loans that dug them deeper into debt as they paid.
The bill would give eligible homeowners a yearlong delay.
During that time, the bill's Democratic sponsors hope the federal government will come up with a plan to help the homeowners keep their houses.
Borrowers who got subprime loans or negative amortizing loans between 2001 and August 1, 2007, could qualify for deferments under the bill if they lived in the home and made a minimum monthly payment.
Foreclosures in Minnesota are on pace to top 33,000 this year as the mortgage crisis deepens.
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The bill is expected to get a hearing in the Senate Commerce and Consumer Protection Committee on Thursday.
