Minnesota Lawmakers Pass One Year Moratorium On "Some" Home Foreclosures; Governor Has Until Monday To Sign Or Veto

In Minnesota, The Wall Street Journal reports:

• The Minnesota legislature's passage of a housing bill has created a dilemma for the man who could veto it: Gov. Tim Pawlenty, a Republican seen as a potential running mate for John McCain. The Minnesota Subprime Borrower Relief Act would allow borrowers to defer foreclosure sales until one year after the measure takes effect. It applies to some subprime and negative-amortization loans.

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• The governor has criticized the plan to defer foreclosures and has said he would be inclined to veto it. He has until Monday to decide. If he doesn't sign the bill by then, it won't go into effect.

For more, see Foreclosure Bill Puts a Governor on Hot Seat (Pawlenty May Veto Minnesota Measure; On McCain Ticket?) (if full story is unavailable, go here - then click link for the story; you may also have to click the "Refresh" button on the web page to get to the story).