Debate On Judicial Role In Loan Modifications Continues

The National Law Journal reports:

• Congress and the president have been immersed in attempts to solve the economic and housing crisis. Will judges soon take their turn? President Obama's recent proposal to address the rising tide of home foreclosures calls for legislation to allow bankruptcy judges under Chapter 13 of the bankruptcy code to modify the terms of home mortgages when families run out of other options.

For more, see Debating judges' role in foreclosure remedy (Proposal lets them modify mortgages).