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Loan Modification

: Mortgage Lender Implode-o-Meter

Illinois enters a state of insolvency

By Implode-Explode Heavy Industries

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"While it appears unlikely or even impossible for a state to hide out from creditors in Bankruptcy Court, Illinois appears to meet classic definitions of insolvency: Its liabilities far exceed its assets, and it's not generating enough cash to pay its bills. Private companies in similar circumstances often shut down or file for bankruptcy protection."

Full post as published by Mortgage Lender Implode-o-Meter on January 18, 2010 (boomark / email).

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