default news: Bankruptcy Judges may soon be able to alter mortgage terms
- 01/28/09 06:38 AM
You may have been all caught up in the looming "sitmulus plan" news that you may not have heard of a recent vote that took place in the House Judiciary Committee.This vote could potentially reduce foreclosure nation wide but, at what cost?Basically, the bill lets Bankruptcy Judges alter the term of mortgage loans. The vote passed 21-15 and now the measure is headed to the House.Now, one thing to remember about this bill is that it only applies to mortgages that were entered into before the bill becomes law. This is important becuase opponets of this bill claim this measure would … (4 comments)
You may have been all caught up in the looming "sitmulus plan" news that you may not have heard of a recent vote that took place in the House Judiciary Committee.This vote could potentially reduce foreclosure nation wide but, at what cost?Basically, the bill lets Bankruptcy Judges alter the term of mortgage loans. The vote passed 21-15 and now the measure is headed to the House.Now, one thing to remember about this bill is that it only applies to mortgages that were entered into before the bill becomes law. This is important becuase opponets of this bill claim this measure would … (4 comments)
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