Back in March, we ran a blog post on how credit unions were worried about new “Cramdown” legislation, which would allow bankruptcy judges to reduce the principal in mortgages loans. Well, they need not worry any longer, at least for a time. The Senate just defeated the bill 51-45.
According to CNN, [...]
Entries Tagged as 'House'
“Cramdown” Legislation Fails in Senate
May 7th, 2009 · 1 Comment · Mortgages
Tags: cramdown legislation·Democrats·House·House of Representitives·Mortgages·principal·Republicans·underwater
It’s Either your Personal Property or Your House, which Would You Pick?
March 2nd, 2008 · No Comments · Credit Bureaus and Scores
Things are getting even tougher for the consumer. You used to be able to get some relief through bankruptcy, but the noose is tightening. The case is In re: James Matthew Franzese, Case No. 07-3944-KSJ.
Read this article:
http://www.bankruptcyorlando.com/2008/02/florida-court-c.html
An Orlando bankruptcy court issued a decision which curtails the personal property exemptions for debtors who own [...]
Tags: Bankruptcy·Choose·court·Debtors·Exemptions·House·Personal Property
