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| Permalink View Article Stats Accommodating Modifications to Mortgage Loans Quicklink submitted by Jason Paz (Add your own quicklinks easily with the OpEdNews Quick Link Browser bookmark) |
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| When the homeowner is under water, he can choose Chapter 7 to accept foreclosure. Or, he can go with Chapter 13, which may offer the chance to 'cram down' the principle to allow repayment terms. The 'cram down' may get banks lending again. The Congress is defining the extent to which a bankruptcy judge can modify the original contract. |
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