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Bankruptcy

: The Debt Podcast

Senators compromise to allow bankruptcy judges to alter subprime loans

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A bipartisan compromise bill in the U.S. Senate (S.2636), which closely aligns with a similar House bill, would allow bankruptcy courts to modify existing subprime mortgages to help families save their homes from foreclosure. Under the terms of the Foreclosure Prevention Act, a borrower can qualify only if it can be proven that he or she [...]

Full post as published by The Debt Podcast on February 29, 2008 (boomark / email).

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