Today, amidst other bits of economic data, foreclosure numbers for January were released. Thanks to foreclosure moratoriums, foreclosures have been down (although that isn't much comfort in some places, where there is still a foreclosure a day).

CNN Money reports on the impact of foreclosure moratoriums:

"The extensive foreclosure efforts on the part of lenders and
government agencies appear to have impacted the January numbers,"
RealtyTrac CEO James Saccacio said in a prepared statement.

The trend toward foreclosure moratoriums has gained considerable momentum lately.

This trend is meant to help give at risk borrowers a chance to figure out what they can do to avoid foreclosure. Even Timothy Geithner's much maligned bank stabilization plan includes money aimed at foreclosure prevention.

But the real question is whether all this foreclosure moratorium is actually helpful. While it might be of use to some, in many cases all it does is delay the inevitable. In fact, the foreclosure moratorium craze just further illustrates the debate between these to views of economic recovery: Let it all fail now and get the effects over with v. let it fail in bits and pieces and stretch out the effects.

It appears, though, that we've already taken the stretch it out approach.