Posts tagged as:

mortgage cramdown

BlackRock: Consumers need a new type of bankruptcy that would better aid homeowners

by Moe Bedard

Jan. 21 (Bloomberg) — Consumers need a new type of bankruptcy that would better aid homeowners and be fairer for mortgage-bond investors than the existing U.S. loan-modification program, BlackRock Inc. Vice Chairman Barbara Novick said.

BlackRock, the world’s largest asset manager, proposes creating a bankruptcy option under which terms of a consumer’s mortgage can be eased, [...]

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Mortgage Bankruptcy Cram-Down Bill Fails, Yet Again

by Moe Bedard

The banks win and homeowners loose as the glorious people who are supposed to represent the people, the U.S. House of Representatives voted to slam-down the cram-down measure that would have allowed bankruptcy judges to modify mortgages in a court of law for struggling homeowners.

The home mortgage bankruptcy bill or commonly referred to as the “mortgage [...]

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Band of House Dems Revisits Cramdown

by Moe Bedard

The Obama administration has all but abandoned it, and the Senate has already voted it down. But a proposal to allow struggling homeowners to escape foreclosure through bankruptcy got a boost Thursday from a small band of House Democrats convinced that voluntary mortgage modifications aren’t alone solving the housing crisis.

They have a point. Despite White [...]

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