Will Bankruptcy Judges Be Given Power to Alter Mortgage Terms in Baton Rouge?
Senate bill could go to floor tomorrow for a vote
One of the complaints that some have against such recent programs as Project Lifeline is that they will not do enough to stem a rising tide of mortgage foreclosures. However, there are others working on this problem, which could affect Baton Rouge real estate along with the rest of the nation. Inman News reports on the "bankruptcy cram down" bill:
Senate Democrats are attempting to push
through a controversial plan to allow bankruptcy judges to modify the
terms of troubled borrowers’ mortgages as part of a larger package of
foreclosure prevention programs.
If this bill passes, it may help many in Baton Rouge real estate avoid foreclosure, keeping their homes.
For more on alternatives to foreclosure and Baton Rouge mortgage programs and real estate, contact Glenda Daughety.
Related Links
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