 | Saving American Homes 101March 3, 2009 The Helping Families Save Their Homes Act of 2009 deserves bipartisan support given the depth of problems in the housing market and the nationwide sweep of homeowners facing foreclosure this year. Specifically, this legislation will: - Allow homeowners facing foreclosure to protect their home in bankruptcy proceedings
- Lower the monthly payments of borrowers refinancing under the program, while streamlining some program features to make it reach more families
- Provide legal safeguards for mortgage service companies to work with homeowners facing foreclosure on affordable mortgage terms
So how would these changes to our bankruptcy law help turn around our housing crisis and help homeowners? And what's in it for mortgage lenders and investors? Read the full article here.
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