coloradoindependent.com
Bennet, Udall split on cramdown protection for homeowners - The Colorado Independent
Bowing to intense lobbying pressure from the mortgage industry, the U.S. Senate killed a bill Thursday to allow bankruptcy judges to modify loan terms on primary residences the way they can on second homes, yachts, cars and other pieces of property. U.S. Sen. Mark Udall voted to give financially-pinched homeowners trapped in overvalued mortgages, while his counterpart Sen. Michael Bennet sided with the Scrooge McDucks of the mortgage banking set.
Wendy Norris