RSSWashington in 5 Minutes
From: The Washington Times stories: Politics | July 30, 2009
MORTGAGES Frank threatens to penalize banks A senior House Democrat warned Wednesday that if banks don’t volunteer to save more homeowners from foreclosure, Congress will force them. In a sternly worded statement, Rep. Barney Frank of Massachusetts said Congress will revive legislation that would let bankruptcy judges reduce a person’s monthly mortgage payment, if the number of loan modifications remain low. Mr. Frank, chairman of the House Financial Services Committee, also said his committee won’t consider legislation to help banks lend unless there is a “significant increase” in mortgage modifications. Mr. Frank’s statement was aimed at adding momentum to a …
Filed Under The Wire
Content posted by users from other sites is posted for commentary and news purposes under fair use and each author is responsible for their own postings and a particular posting should not be construed as being endorsed by this site or its owner.
Please Note: The comments section is for both the registered users of this web site as well as non-registered users. All wishing to post comments must comply with our Commenting Rules or risk having their comments stricken. Comments do not necessarily reflect the views of the ownership of this site and should not be taken as such just because they are visible and posted here.
Leave a Reply
Loading ...Recommended Reading:
