for the last time, NO mortgage modification in bankrupcty!

On March 30 Congress made it official. H.R. 200, the “Helping Families Save Their Homes in Bankruptcy” Act of 2009 was put down once and for all by a narrow margin in the Senate.

Pity. It turns out the Act would have gone a long way towards leveling a very uneven playing field. You can read about some of the (relatively) radical aspects of the bill in this summary from govtrack.us.

Now for the last time, stop fantasizing that the Federal Government is going to save your house and just hire a bankruptcy lawyer already.

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3 responses to “for the last time, NO mortgage modification in bankrupcty!

  1. If you are facing losing your home, were you mis sold your mortgage.
    Many mortgages arranged through brokers were fabricted. You could have a mis sold mortgage

  2. Yeah, It’s the play of money in politics. What we can do?

  3. Again, the Senate proves to be the best bunch of politicians money can buy. Here’s the “Dishonor Roll” of banks and financial institutions who spent close to $50 million in order to derail mortgage modification in bankruptcy. http://firedoglake.com/money-spent-on-lobbying-to-defeat-mortgate-cramdown-in-1q-2009/