5
Mar
The Mortgage Cramdown – A Very Bad Idea For Homeowners
Rep. Louie Gohmert speaks out against the mortgage cramdown, which would allow judges to rewrite home mortgages during bankruptcy. This proposal would force the 92 percent of responsible homeowners to subsidize the mistakes of irresponsible borrowers and lenders.
At the very least, mortgage lenders will have to add additional fees to all new mortgages to cover for the loses this legislation will cause.
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