Detroit MI lawyer
248-433-2000
Bookmark This Page Email To Friend Print This Page
Senate Rejects Bankruptcy Cramdown 4/30/2009

 

Despite support from President Obama, a Senate bill which would have allowed bankruptcy judges to re-write the terms of a homeowner's mortgage, sometimes referred to as a "cramdown", is headed for defeat in the Senate.  A similar bill passed the House of Representatives in March, but the bill has stalled in the Senate.  Only 41 senators voted in favor; 60 votes are necessary to avoid a filibuster.

HOME  |  AREAS OF PRACTICE  |  ABOUT US  |  CONTACT US