I usually call this judicial mortgage modification, same bill.
USA Today did a story featuring quotes from Matt Mason, who led the Michigan NACBA delegation through the halls of Congress last week.
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Category Archives: Chapter 13 Bankruptcy
Chapter 13 Reform Bill
Foreclosures Increase
Center For Responsible Lending has a ticker tracking total foreclosures in the U.S. for 2009, new one every 13 seconds.
Chapter 13 bankruptcy reform is the way to address this crisis NOW. (link is to the proposed legislation)
I will be in Washington DC Tuesday to personally lobby Congress, with about 150 of my fellow NACBA [...]
Hope for Homeowners Joins Bankruptcy Reform
The Hope for Homeowners Program brought to you by your federal politicians last year has produced zero, yes none, yes, as in not one mortgage modification, just slightly short of the 40,000 predicted, as the fastball described by Bob Uecker in “Major League” was “just a bit outside.”
Never one to let failure affect its programs, [...]
Home Foreclosed? Just Stay There, Says Ohio Congressperson
Foreclosures continue, up 158% over last year, modifications are difficult, the Chapter 13 bankruptcy law has yet to be reformed, what to do?
Just stay in your foreclosed home says one of our politicians.
There are foreclosure defenses. In order to [...]
Update-Chapter 13 Bankruptcy Reform
Bill passes House Judiciary Committee, you can read it here.
What is now happening in Detroit, Michigan, is that foreclosed homes are being given away by New Century, which sold 60 homes for $60.00.
That is right, 1$ per home.
Someone studied the records, came in and said I will take them off your hands. Sure, they [...]
Chapter 13 Bankruptcy Reform Passes House Judiciary Committee
Per the American Bankruptcy Institute web site:
As the House Judiciary Committee approved mortgage cramdown legislation yesterday by a vote of 21-15, Democratic leaders are preparing to wrap it into the omnibus spending package slated to come to the House floor next week, CongressDaily reported today. House Judiciary Chairman John Conyers (D-Mich.) made three changes to [...]
Chapter 13 Bankruptcy Reform – Judiciary Committe Vote Today
The House Judiciary Committee will meet at 1 p.m. ET today to mark up (consider) HR 200, the “Helping Families Save Their Homes in Bankruptcy Act.” At the time of the mark up their will be a manager’s amendment offered by Chairman Conyers that will embody the language changes agreed to in the Citigroup [...]
Chapter 13 Bankruptcy Reform – Obama’s Position
How long will Congress wait before voting on Chapter 13 bankruptcy reform?
The article linked to above says many in Congress are eager, but the administration, though supportive, asked to have reform stripped from the stimulus bill, to get that done first.
Our government, always eager to spend our money.
Chapter 13 Bankruptcy Reform – Bankers Oppose
Stunning news, the bailed out, whose appetite, and need, for our money knows no bounds, oppose Chapter 13 bankruptcy reform that would let homeowners avoid foreclosure and keep their homes by allowing bankruptcy courts to re-write the terms of their mortgages.
It is time to yell (OK, maybe speak) to our representatives, that they have tossed [...]
Chapter 13 Bankruptcy Reform Update
Per O. Max Gardner, North Carolina bankruptcy lawyer extraordinaire:
John Logan and the NACTT objected to the proposed Mortgage Bankruptcy
Bill because it mandated direct payments on the modified mortgage. I
have been a big supporter of Conduit Payments for years and we are
working on a new Conduit Payment Rule for the WDNC. I am pleased [...]
