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Real Estate & Property Law

: Housing Wire

Citi Throws Weight Behind Cram-Downs

By PAUL JACKSON

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In a move that clearly caught much of the financial and mortgage markets by surprise late Thursday, Citigroup, Inc. (C: 6.9475 -2.97%) agreed with key legislators on a plan that would allow bankruptcy judges to modify the terms of mortgages during debt restructuring. The move is a surprising break from the financial industry’s long-standing and [...]

Full post as published by Housing Wire on January 09, 2009 (boomark / email).

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