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Real Estate & Property Law

: Housing Wire

Stimulus Package to Include Cram-Downs: Report

By PAUL JACKSON

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The latest round of economic stimulus currently being crafted by Senate Democrats is likely to include controversial legislation allowing so-called “cram-downs” of mortgage debt in bankruptcy, according to a Reuters report Monday evening. The proposal, long opposed by key lobbyists in the mortgage industry, would allow judges to reduce mortgage debt on primary residences as [...]

Full post as published by Housing Wire on January 05, 2009 (boomark / email).

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