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: Loan Modification & Home Loan News

BlackRock: Consumers need a new type of bankruptcy that would better aid homeowners

By Moe Bedard

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Jan. 21 (Bloomberg) — Consumers need a new type of bankruptcy that would better aid homeowners and be fairer for mortgage-bond investors than the existing U.S. loan-modification program, BlackRock Inc. Vice Chairman Barbara Novick said. BlackRock, the world?s largest asset manager, proposes creating a bankruptcy option under which terms of a consumer?s mortgage can be eased, [...]

Full post as published by Loan Modification & Home Loan News on January 22, 2010 (boomark / email).

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