House Judiciary Panel Revisits ‘Judicial Modification,’ Experts Say Cramdown Will Yield Little Mortgage Relief
September 10, 2009
Despite previous setbacks, House Democrats have again raised the specter of judicial mortgage modifications during a subcommittee hearing this week. But experts warned there is little that modification policy – private or judicial – can do to help borrowers with underwater loans. Just as current loan modification policies have yielded little mortgage relief...