Bankruptcy
Mar. 7, 2009
U.S. House's Bankruptcy Bill Has Mortgage Fix
The House of Representatives passed a controversial bill Thursday that empowers bankruptcy judges to lower monthly payments on home mortgages in an effort to prevent foreclosures.
Daily Journal Staff Writer WASHINGTON - The House of Representatives passed a controversial bill Thursday that empowers bankruptcy judges to lower monthly payments on home mortgages in an effort to stem the tide of foreclosures dragging down the U.S. economy. Democratic lawmakers argued that the bankruptcy process can succeed where voluntary restructuring has failed to stop foreclosures, because judges can deal with the contractu...
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