Foundation for Economic Education » House Passes Bill Allowing Judges to Rewrite Mortgages

House Passes Bill Allowing Judges to Rewrite Mortgages

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“The measure was opposed by banks, which have argued for years that it would drive up their losses and that homeowners would flood bankruptcy courts looking for relief. The Congressional Budget Office has estimated that the change would increase bankruptcy filings by about 350,000 in the next 10 years.” (Washington Post ^[1], Friday)

Silly banks … thinking losses matter.

FEE Timely Classic:
“Can the Feds Save the Housing Market? ^[2]” by Robert P. Murphy

Article printed from Foundation for Economic Education: http://www.fee.org

URL to article: http://www.fee.org/articles/in-brief/house-passes-bill-allowing-judges-rewrite-mortgages/

URLs in this post:

[1] Washington Post: http://www.washingtonpost.com/wp-dyn/content/article/2009/03/05/AR2009030502834.html?nav=rss_email/components

[2] Can the Feds Save the Housing Market?: http://www.thefreemanonline.org/featured/can-the-feds-save-the-housing-market/

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