Chapter 13 cramdowns coming

[Yahoo Bot]

_,___ Legislation designed to stem foreclosures by allowing bankruptcy judges to erase some mortgage debt in chapter 13, similar to proposals considered last year, will be introduced by congressional Democrats today, Reuters reported. "Economic conditions have only worsened since we last debated this plan," said Rep. Brad Miller (D-N.C.), who introduced the bill today. "Until we stop the slide in foreclosures and falling home prices, the economy will get worse still." Democrats in both the U.S. House of Representatives and Senate plan to introduce the legislation.
_,___ Legislation
designed to stem foreclosures by allowing bankruptcy judges to erase some
mortgage debt in chapter 13, similar to proposals considered last year, will be
introduced by congressional Democrats today, Reuters reported. "Economic
conditions have only worsened since we last debated this plan," said Rep. Brad
Miller (D-N.C.), who introduced the bill today. "Until we stop the slide inforeclosures and falling home prices, the economy will get worse still."
Democrats in both the U.S. House of Representatives and Senate plan to introduce
the legislation.

The post was migrated from Yahoo.