House Bill Loosens Mortgage Modifications

By
Real Estate Broker/Owner with John Vesco Real Estate

The House is expected to vote on a bill Thursday that would let bankruptcy judges erase some mortgage debt for troubled homeowners and shield mortgage servicers modifying loans from bondholder lawsuits. Rep. Brad Miller (D-NC) said the provisions should prod mortgage companies to loosen home loan terms on a scale that they have not done before

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