Law Practice
Feb. 26, 2009
BERG: Judge: Cramdowns Can Help Slammed Homeowners
Cramdowns. It sounds more like something that happens inside a World Wrestling Federation ring than in the solemn formality of a federal bankruptcy court. It's a process also known as judicial modification, which would allow bankruptcy judges to order reductions of mortgage payments for debtors facing foreclosure in an effort to keep them in their homes.
Cramdowns. It sounds more like something that happens inside a World Wrestling Federation ring than in the solemn formality of a federal bankruptcy court.
The name has been attached to a process also known as judicial modification, which would allow bankruptcy judges to order reductions of mortgage payments for debtors' facing foreclosure in an effort to keep them in their homes.
The proposal, which the House of Representatives is set to debate today, has stirre...
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