The U.S. House Judiciary signed off on Wednesday on a bill designed to
help certain bankrupt homeowners stay in those homes.
The highly controversial bill is yet another piece in a
crazy-quilt of government and mortgage industry attempts to curtail
rising foreclosures and stem the collapse of lending and lenders.
The bill changes the creditor-friendly overhaul of
the nation's bankruptcy code passed in 2005 allowing bankruptcy courts to
change the terms of some existing mortgages to the benefit of the
homeowners.
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