Bankruptcy Cram Down Could Reduce Foreclosures 20 Percent
Proposed legislation that would allow bankruptcy judges to modify the terms of mortgages on primary residences could reduce foreclosures by 20 percent, according to a report from Credit Suisse.
The investment bank’s analysts believe that if such legislation were to become law, it would prompt banks and lenders to step up loan modification efforts.
“We expect the new bankruptcy reform will increase Read more