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Real Estate & Property Law

: The Home Equity Theft Reporter

Major Lender, Top Senate Democrats Reach Understanding On Mortgage Cramdown Provisions Allowing Bankruptcy Judges To Modify Troubled Home Loans

By r morris

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The Wall Street Journal reports: A Senate bill aimed at giving strapped homeowners more leverage in renegotiating their mortgages cleared a hurdle Thursday when Citigroup Inc. dropped its opposition. The legislation, which is being advanced by top Senate Democrats, would let judges set new repayment terms for mortgage holders in bankruptcy court.***The proposal from Sen. Dick Durbin, an Illinois

Full post as published by The Home Equity Theft Reporter on January 09, 2009 (boomark / email).

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