Not Enough Cram Down On Mortgages

by Chris Sturr | March 06, 2009

Congress passed a bill yesterday that would give bankruptcy judges the limited ability to “cram down” or rewrite mortgages for borrowers about to lose everything. The bill will now move to the Senate.

It’s a good start, but doesn’t go far enough.

The bill was watered down to appease a group of conservative Democrats

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