House passes bankruptcy cramdown legislation: significant upheaval in mortgage foreclosure rights

For the first time, individuals filing for bankruptcy protection may soon be able to reduce principal and interest on home mortgage obligations and prevent enforcement of certain mortgages even after entry of a foreclosure judgment.

Filed under:
USA, Banking, Insolvency & Restructuring, Jorden Burt LLP, Bankruptcy, Debtor, Debt, Mortgage loan, Foreclosure, Secured loan, Mortgage Bankers Association, Truth in Lending Act 1968 (USA), United States bankruptcy court
Authors:
Elizabeth Bohn
Location:
USA
Firm:
Jorden Burt LLP