bankruptcy cram down
Do you think Bankruptcy judges should cram-down mortgages?
Cram down is when the a loan principal is reduced because of the value of the home is worth less than what is owed. The theory is that if a mortgage is foreclosed, the lender will only be able to sell the property for its value, if best. By using cram-down, home owners will pay a lower payment, saving their home.
Yes, I think bankruptcy judges should have that OPTION (of course they shouldn’t be REQUIRED to do this in all cases). Right now, loans secured by the debtor’s principal residence are the ONLY loans for which this option is NOT available in bankruptcy. Loans secured by 2nd homes, rental properties, boats, RVs, semitractor-trailers, and anything else under the sun ALREADY CAN be crammed down in bankruptcy – the ONLY kind of loan that cannot be is a mortgage secured by the debtor’s primary residence. This lone EXCEPTION to the general rule makes absolutely no sense, and should be repealed, in my opinion. The mortgage lender won’t come out any worse off, and might come out better off (won’t have the cost of sale, will have a borrower with which it already has a history, and who is committed to keeping the house, etc), and individuals and neighborhoods will definitely be better off (I’d rather live in a neighborhood with several houses owned by homeowners who filed bankruptcy and crammed down their mortgages, than those same several house owned by banks or absentee real estate speculators, which often do a terrible job of upkeep. The overgrown lawns, grafitti on garages, etc. bring down everybody’s property values, including mine).
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CRAMDOWN: Renegotiating Mortgages, Car Loans, Student Loans, Credit Card Debt, Taxes & Other Obligations in the Age of Wall Street Bailouts $9.95 This fall, Silver Lake Publishing is “crashing” into retail stores a new book on loan mods and other renegotiations. CRAMDOWN: Renegotiating Mortgages, Car Loans, Student Loans, Credit Card Debt, Taxes & Other Obligations in the Age of Wall Street Bailouts follows in the series that has included the national bestsellers Identity Theft and Scams & Swindles. This is the first comprehensive book on t… |
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Die #00cram down power#01 des amerikanischen Konkursgerichtes im Reorganisationsverfahren nach Chapter 11 des Bankruptcy Code (European university studies. Series II, Law) (German Edition) $81.95 … |
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Ozark cram-down. (Ozark Office Building Limited Partnership files for bankruptcy protection)(includes related article): An article from: Arkansas Business $5.95 This digital document is an article from Arkansas Business, published by Journal Publishing, Inc. on July 22, 1991. The length of the article is 1235 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTitle:… |
