by Moe Bedard
Proposals include easing bankruptcy rules, shielding banks from lawsuits and providing government assistance to homeowners facing foreclosure.
Sen. Christopher Dodd, D-Conn., chairman of the Senate Banking Committee, has proposed the creation of a federal corporation, funded with as much as $20 billion, to buy distressed mortgages and help struggling homeowners refinance into affordable loans.
The federal Office [...]
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by Moe Bedard
The lenders and bankers are fighting the new bankruptcy bill big time because they hate when government meddles in their business. Well, they hate it when it affects their bottom line. But hey, they sure don’t mind government assistance if it means bailing their butts out of the the mortgage waters. Even if they were the ones that caused the [...]
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