Bankruptcy judges would get new authority to modify the terms of a mortgage on a homeowner’s primary residence under legislation approved Wednesday by the House Judiciary Committee to assist homeowners facing foreclosures because of the recent sub-prime mortgage crisis.
The bill — fiercely opposed by the lending industry but supported by Democrats and consumer advocates — was passed by the House Judiciary Committee 17 to 15, with one Republican supporting it.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
