.jpg)
Brother Bush will veto new chapter 13 legislation
From my blog.
According to the Washington Post today, Bush has announced he will veto
the bills pending in Congress designed to allow homeowners to rewrite
their home mortgages in chapter 13 cases. His announced primary concern
is federal spending; he will not "risk tax dollars." He opposes
legislation which "permits a select group of troubled borrowers" to
rewrite their loans which will contribute to the troubles of the
mortgage industry. He opposes bailing out the mortgage industry as well
by, for example, having the federal government buy distressed mortgages.
The article can be found here.
The post was migrated from Yahoo.