by Moe Bedard
Day points to two changes that need to be made to the program in order to see greater success: It must be mandatory for lenders rather than voluntary, and it must attack the principal of the loans rather than just the interest rates. Giving bankruptcy judges the power to modify mortgages on primary residences would [...]
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by Moe Bedard
Today, members of the U.S. House of Representatives Judiciary Committee heard the testimony from bankruptcy lawyers and an economist who hope to influence law makers in passing this bill. They are asking for a few changes to the U.S. bankruptcy code to help save many troubled homeowners from foreclosure as the mortgage crisis takes hold in the next two [...]
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