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Bankruptcy

: Credit Slips

Putting the Bankruptcy Option Back on the Table for Distressed Homeowners

By Bob Lawless

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The New York Times editorialized that "it is time to revive the fight to open the courthouse door to bankrupt homeowners." Specifically, the NYT wants to revive the proposal to let homeowners use the bankruptcy process to write down the principal balance on their mortgages to the value of the home. Yes, exactly right, as discussed many times here, here, here, here, here, here, here, and here on Credit Slips.

Full post as published by Credit Slips on April 16, 2010 (boomark / email).

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