Industry News

Bill would let bankruptcy courts impose loan mods

Moody's: Subprime servicers modify only 1% of loans
Published on Sep 25, 2007

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by CareyBot

Legislation that would allow bankruptcy courts to modify the terms of a homeowner’s mortgage loan could save 600,000 homes from foreclosure, the bill’s sponsor claims. HR 3609, the Emergency Home Ownership and Mortgage Equity Protection Act of 2007, would repeal ...