Handshake deal gets foreclosure reprieve...

Governor Charlie Crist announced that many Florida banks have agreed to voluntarily delay scheduling foreclosure sales of homesteaded homes for 45 days. The non-binding resolution is a less dramatic action than the 90-day ban Crist sought to impose, but the volunteer effort has broad participation and the backing of the Florida Bankers' Association. Bank of America, Countrywide, JPMorgan Chase and Citigroup already announced similar delays or internal company-wide moratoriums. The delay extends only to banks that are members of the Florida Bankers' Association, which declined to release its roster Monday. [Miami Herald]