The mortgage meltdown and ensuing global financial crisis, in the fall of 2008, still reverberates today. The New York Times reported on the essentials of the credit crisis and pointed out the breadth and depth origins of this crisis and likened these times to the Great Depression.
I have previously reported on the financial crisis in The Economy of Bankruptcy; while The National Association of Consumer Bankruptcy Attorneys [NACBA] has been following SB61 since its inception. SB61 essentially will allow bankruptcy judges to modify the terms of a mortgage. Recently, NACBA Director, John Rao testified on the matter in October, before the Senate Judiciary Committee’s Subcommittee on Administrative Oversight and the Courts. Continue reading ‘Mortgage Modification in Chapter 13? Rejected!’ »