The Rocky Mountain News reports that two state legislators plan to stop the world. No one, including the Rocky reporter. seems to have thought to ask either of these two if they thought what they were doing was Constitutional:
"We all know foreclosures are skyrocketing," said state Rep. Sara Gagliardi, D-Arvada. "We must find a way to help the families and help the communities."
Gagliardi and state Rep. Mark Ferrandino, D-Denver, announced their legislation while standing in front of a foreclosed home in southwest Denver's Athmar neighborhood.
So, what do they plan to do?
State judges would be given the power to halt foreclosure proceedings for 90 days to give mortgage companies and homeowners time to try to work out plans to avoid foreclosure under a bill unveiled Sunday by two state lawmakers.
How likely is this to be Constitutional? Not very. While Congress might be able to pull this stunt, the states are powerless to interfere with contracts. The US Constitution:
Article I, Section 10, Clause 1: No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
It is hard to see how any state law which allowed a judge to suspend foreclosure for three months would pass Constitutional muster.
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