House Approves Cram-Down Bill

06 Mar 2009

The House of Representatives voted 234-191 Thursday to approve a bill that would give bankruptcy judges the authority to modify mortgages as a last resort to avoid foreclosure.

The House of Representatives voted 234-191 Thursday to approve a bill that would give bankruptcy judges the authority to modify mortgages as a last resort to avoid foreclosure. The bill was modified to placate opponents in Congress, as well as the banking industry, who claim the measure would ...

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