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Senate Rejects a Proposal to Allow Bankruptcy Judges to Alter Home Mortgages

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Sheila Samples

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The proposal to let bankruptcy judges alter loan terms on primary homes, as they can already do on vacation homes and investment properties, was the most controversial in a series of amendments to the larger housing measure. It faced stiff opposition from many Republicans as well as the banking and mortgage loan industries.

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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.

Related Topic(s): Bankruptcy; Mortgage Crisis; Senate; Senate Legislative Failures, Add Tags

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