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April 5, 2008
Senate Rejects a Proposal to Allow Bankruptcy Judges to Alter Home Mortgages
By Sheila Samples
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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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.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.