Expressing the sense of the House of Representatives that the States should enact a temporary moratorium on residential mortgage foreclosures.

the President of the United States should declare a national residential mortgage foreclosure emergency and, through such declaration, encourage the States, by use of their police power, to enact a moratorium on residential mortgage foreclosures similar to the moratorium enacted by the State of Minnesota in 1933 and upheld by the Supreme Court of the United States in Home Building & Loan Association v. Blaisdell (290 U.S. 398 (1934)); and

the States should exercise such power and enact such a moratorium.