Foreclosure-Relief Bill Stalls Before House Vote

By Marie Morris,  Newser Staff
Posted Feb 26, 2009 3:09 PM CST
Foreclosure-Relief Bill Stalls Before House Vote
A for-sale sign lies on the ground in front of a boarded-up vacant home in North Las Vegas, Nev., Feb. 18, 2009.   (AP Photo)

Legislation that would allow bankruptcy judges to reduce the principal on mortgages of homes in danger of foreclosure will not come up for its scheduled House vote today because Democratic infighting has broken out, endangering its passage, CQ Politics reports. The “cramdown” provision was a red flag for fiscal conservatives, who aired their concerns in a caucus meeting this morning. (More mortgage stories.)

Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X