http://docs.google.com/viewer?a=v&q=cache:PAiAxgzKOXAJ:research.stlouisfed.org/publications/review/08/11/Wheelock.pdf+Individual+State+yearly+forclosure+totals+for+the+United+States&hl=en&gl=us&pid=bl&srcid=ADGEESjAqUKra_Bw7Zrc58pjD76wtJCk90a7NgbYER6V-HuUB80bE16iT8YhBR0b4qW7Cs4lRPmrFKW3J9UMb-H2Kl7kniHPCd6wVBTmNrA1rNTwSD8dQioz7PpUhSeCtzAMFu5ZsnKn&sig=AHIEtbQ0Zx3WkSwGy-r4GxKfh18fBU5hHg
This is an outstanding read and answers my question of why only the banks only stopped foreclosures in 23 states, which I think is wrong by the way. According to this paper it's 27.
During the depression the states tried to help the farmers out. They had a very high foreclosure rate.
Note the bold, the you need the FED's permission to read what they had to say, consequently they are blurred out.
I put it off to just another one of those national security secrets that everything falls under.
In other words you don't need to know the information
Check your state to see which category you fall in
Judicial or non-Judicial
The past and present look like they were created from the same template .
David C. Wheelock is an assistant vice president and economist at the Federal Reserve Bank of St. Louis. The author thanks Lee Alston,
Carlos Garriga, and Rajdeep Sengupta for comments on an earlier version of this article. Craig P. Aubuchon provided research assistance.
© 2008, The Federal Reserve Bank of St. Louis. The views expressed in this article are those of the author(s) and do not necessarily reflect the
views of the Federal Reserve System, the Board of Governors, or the regional Federal Reserve Banks. Articles may be reprinted, reproduced,
published, distributed, displayed, and transmitted in their entirety if copyright notice, author name(s), and full citation are included. Abstracts,
synopses, and other derivative works may be made only with prior written permission of the Federal Reserve Bank of St. Louis.
Changing the Rules: State Mortgage Foreclosure Moratoria During the Great Depression
ECONOMIC IMPACT OF
FORECLOSURE MORATORIA
Governments cause both immediate and
long-term effects when they rewrite the terms of
contracts between private parties. The immediate
impact is redistribution of wealth between the
parties of the affected contracts. The temporary
foreclosure moratoria and most other changes in
state mortgage laws enacted during the 1930s
favored borrowers over lenders. These actions
interfered with the rights of lenders to seize col-
lateral pledged by borrowers to guarantee payment
of their mortgages. Several states also enhanced
the rights of borrowers to redeem foreclosed
property and limited the rights of lenders to sue
for deficiency judgments.
One immediate effect of mortgage relief legis-
lation during the Depression was reduced farm
foreclosure rates (Rucker and Alston, 1987).21
