Re: Miller: Help homeowners with mortgages

donnydonny — Thu, 21 Feb 2008 17:18:20 -0500

Looks like Senate Majority Leader Harry Reid is actually planning on bringing this bill to a vote as part of Congress's second economic stimulus package:

http://www.opencongress.org/articles/view/427-Roud-Two-Stimulus-for-Subprime-Sufferers

Miller: Help homeowners with mortgages

mtomsic — Wed, 20 Feb 2008 18:08:00 -0500

U.S. Rep. Brad Miller wants to help people declaring bankruptcy rewrite the terms of their home loans.

During a meeting of the Northern Raleigh Rotary Club today, the Raleigh Democrat talked about a bill he sponsored that would allow judges to modify the mortgages of homeowners who declare Chapter 13 bankruptcy. Judges can already modify debts related to vacation homes and cars.

"Allowing people to modify their mortgages the same way they modify a mortgage on a vacation home, a mortgage on investment property, a car loan will allow 600,000 families to keep their home," Miller said.

The bill passed the Judiciary Committee but has not been voted on by the House. A similar bill is making its way through the Senate with the support of Democratic majority leader Harry Reid.

"I think Democrats won two years ago because people wanted a Congress that would stand up to special interest groups," Miller said. "This is the kind of fight that the American people want us to fight and not walk away from."

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Re: Miller: Help homeowners with mortgages

Miller: Help homeowners with mortgages