Skip to main content

Judges should have say in mortgage modifications

By Marcie Geffner - Inman News

The Mortgage Bankers Association recently fought off federal legislation that would have allowed bankruptcy judges to modify residential mortgages. The MBA's victory was a huge success for lenders, but an unfortunate loss for homeowners who have declared bankruptcy.

Lenders had good reason to dislike the proposal, which would have shifted some of the power over mortgages from lenders' loss-mitigation departments to bankruptcy judges, who might have imposed modifications that the lenders wouldn't have liked.

Read the rest of this story:
http://www.inman.com/opinion/guest-perspective/2008/05/1/judges-should-have-say-in-mortgage-modifications

Contact Form

Name

Email *

Message *

Blog authors

My photo
Reporter. Writer. Editor. Book reviewer. Part English major. Part MBA. Often at the beach. Always on a deadline.