HR 200, the house version of the “Helping Families Save Homes in Bankruptcy Act of 2009” was amended in committee to include a “clawback” amendment. This allows the mortgage companies, whose loans are modified by a bankruptcy judge, to share in the appreciation of a house that is later sold by the home owner. The [...]
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House Bill 200, With Amendments, Approved By Committee And Sent To House Floor
The , “Helping Families Save Homes in Bankruptcy Act of 2009” was approved by the House Judiciary Committee, voting strictly on party lines, and sent to the House Floor late on January 28, 2009.
The committee added several amendments to the bill. Several of these are discussed in the post, “Changes to HR 200 [...]
The Banking and Lending Industry is Fighting Hard against the Mortgage Modification Bill
Opposition to the “Helping Families Save Their Homes in Bankruptcy act of 2009” is coming from the banking and lending industry. They are literally pouring millions of dollars into lobbying against this legislation, as reported by KUTV, news 2.
They argue that allowing judges to reduce mortgage payments will end up costing home owners more in [...]