The Federal Government has announced a 30 day freeze on home mortgages that are set for foreclosure if the home owner is more then 90 days past due on paying their rent.

In a move that seems to only be delaying the inevitable Treasury Secretary Henry Paulson and banks representing half the U.S. mortgage market agreed to offer 30-day freezes on foreclosures, acknowledging the need for a stronger response to the worst housing slump in a generation.

Bank of America, Wells Fargo, WaMu and Countrywide, said the program would start with a letter to homeowners more than 90 days delinquent that lays out procedures to qualify for a pause in the foreclosure process. The homeowner has 10 days to respond so the lender is able to weigh payment options.

It is our guess they are giving the home owner time to go out and purchase a few lottery tickets before they finally take their homes.