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Obama Aims To Fine-Tune Bankruptcy Law

Law360 (October 31, 2008, 12:00 AM EDT) -- As Barack Obama gears up to take over the White House, he plans to reform the Bankruptcy Code so that homeowners will be able to modify mortgages in Chapter 13 proceedings and offer additional assistance to disaster victims, members of the military and other groups.

Some experts worry that letting homeowners restructure their mortgages will end up driving up interest rates to purchase homes, while others claim those fears are an overreaction and that any increase in interest rates would be minimal.

In a move to...
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