Comments on: Helping Families Save Their Homes in Bankruptcy Act of 2009

By: Where is Obama’s 90-day Foreclosure Moratorium? : Mortgage Law Network

Where is Obama’s 90-day Foreclosure Moratorium? : Mortgage Law Network — Mon, 26 Jan 2009 00:21:41 +0000

[...] am a bankruptcy lawyer. The Durbin bill, introduced this session as S61, and called the Helping Families Save Their Homes In Bankrutpcy Act of 2009. would help many of my clients. However, it would only help homeowners if they file bankruptcy [...]

By: Obama’s economic stimulus package will not work : Mortgage Law Network

Obama’s economic stimulus package will not work : Mortgage Law Network — Fri, 23 Jan 2009 15:33:15 +0000

[...] way the government can accomplish this is by passing the proposed bankruptcy amendment that will force banks to modify mortgages. This will require the actual printing of zero [...]

By: New Bankruptcy Law May Not Solve the Foreclosure Crisis? : Mortgage Law Network

New Bankruptcy Law May Not Solve the Foreclosure Crisis? : Mortgage Law Network — Fri, 16 Jan 2009 13:02:56 +0000

[...] The new bankruptcy amendment allowing mortgage “cramdown” requires that the debtor be in imminent threat of foreclosure. In other words, if a homeowner is scraping by, but nonetheless is staying current with the mortgage, he is not eligible for relief. Therefore, he must stop making mortgage payments and default on the mortgage to become eligible for cramdown. [...]

By: MLN Contributor Explains Pending Mortgage Modification Bill on Fox Business News : Mortgage Law Network

Mon, 12 Jan 2009 21:28:48 +0000

[...] foreclosures in chapter 13 bankruptcy proceedings if the “Help for Homeowners Act” (S 61 and HR 200) is passed by Congress. The legislation is part of the economic stimulus package backers want to [...]

By: CitiBank And Home Builders Support Mortgage Modification : Mortgage Law Network

CitiBank And Home Builders Support Mortgage Modification : Mortgage Law Network — Fri, 09 Jan 2009 01:31:26 +0000

[...] One of the world’s biggest banks has agreed to support changes in the bankruptcy code to give judges the power to modify mortgages on the debtors home. Citigroup, Inc., has signed on with Senator Dick Durbin to S 61, a bill titled the “Helping Families Save Their Homes in Bankruptcy Act of 2009.” [...]