Is a Mortgage Cramdown a Good Alternative For You?

U.S. House Rejects Mortgage "Cramdown" Measure

What does this mean to the average homeowner?

WASHINGTON (Reuters) 12-11-09 - In a win for the banking industry, the U.S. House of Representatives voted on Friday to reject a measure that would have allowed bankruptcy judges to change the terms of mortgages for distressed homeowners.

My Opinion Follows:

Yet again the powerful banking lobby with plenty of taxpayer cash available has defeated the interest of the taxpayer by lobbying hard and fast against a bill that would allow bankruptcy judges the ability to use their discretion when discharging 2nd mortgage debt.

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As long as politicians fear losing elections the will and best interest of the people will never prevail.

Our government has become the possession of the special interest and corporations. One only need look at the debate and progression of this issue as an indication of what happens when politicians have the ability to give back money to their campaign contributors in the form of a bailout unabated by rules prohibiting the use of these same funds for campaign contributions.

I have spoken to many, many homeowners who have tried unsuccessfully to get assistance from the same Congressmen and Senators who have thrown this bone to their banking industry benefactors.

IF YOU BELIEVE WHAT THEY HAVE DONE HERE IS A SHAME....

Write, Email and/or Call your Politicians TODAY!

Find your Congressperson here:

https://writerep.house.gov/writerep/welcome.shtml

Find your Senator here:

http://www.senate.gov/general/contact_information/senators_cfm.cfm

If you are in trouble and fear you might lose your home Bankruptcy may be the answer. In order to determine if this is the best course of action for you seek out a GOOD Bankruptcy attorney who has a lot of experience with not only Bankruptcy, but also Foreclosures, and Debtors Rights.

You can get FREE advice and assistance information here: LoanModMan.com

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