Cram-down bill advances in the Senate, "aimed at giving strapped homeowners more leverage in renegotiating their mortgages."

Brad Miller has been an advocate of this modification to bankruptcy law, which the mortgage industry has long opposed. He's got a strong record on this stuff.

Comments

[Spag]

I doubt the cram down bill for mortgages will have much effect for most people in bankruptcy because it involves a long term debt that is unlikely to make much difference when amortized. In some places where home values were severely inflated it might, but not so much around here. We'll see.