New Bill would allow bankruptcy judges to alter terms of mortgages (including principal it is thought) to free those who can't pay -- on CNBC 1 1/2 hrs ago.
Citigroup in on it although they are not a big player. Bipartisan support supposedly. This could be the biggest news in years if true. Housing prices, here we go -- up! (I hope since 885 Greenville is still not sold and I am hurting, living two blocks away.)
Cramer: hedge funds own the CDO's on these things. They are the ones who would get hurt. (Too bad ;)
Thursday, January 8, 2009
Allow Bankruptcy Judges to Write Down Principal -- Would be Huge!!!
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