Update: House Passes Cram Down Bill Over CU Objections
The House passed the Mortgage Bankruptcy Bill yesterday intended to ease the burden on homeowners facing struggles to pay their mortgage. The legislation now heads to the Senate for consideration, if passed empowers federal judges to modify mortgages for borrowers who file for bankruptcy.
The credit union community has lobbied strongly against this bill.
Randall C. Smith, Managing Editor
CUiNSIGHT.com
Friday, March 6, 2009
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