The Problems With The Mortgage Bailout Plan

Law360 (April 13, 2009, 12:00 AM EDT) -- One of the many proposals that have been advanced to deal with the current economic crisis, to provide relief to homeowners who are “upside down” in their mortgage loans — owing loan balances greater than the depressed value of the property — is now being considered by the Senate after being passed by the House.

The plan — the Helping Families Save Their Homes Act of 2009 — is to give bankruptcy judges the power to “cram down” reductions in home loan balances, thus forcing lenders...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.