The Colorado Independent,2020
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Fresh out of college, you're burdened with loans. "You didn't land that dream job. You're struggling to make ends meet. But the interest just keeps...
Republicans on the House Energy and Commerce Committee today called for a subpoena of White House records regarding the half-billion dollar taxpayer loan guarantee of Solyndra, a move Rep. Diana DeGette, the ranking Democrat on the panel, blasted as “an act of irresponsible partisanship.”
Six Colorado dairy farms have filed for Chapter 11 bankruptcy this year, with more expected to follow, reports The Denver Post. This report adds to...
Controversial last-minute changes to House legislation empowering bankruptcy judges to alter primary mortgages will do little to prevent struggling homeowners from trying to save their homes through bankruptcy, according to a number of housing advocates who are following the debate. Rather, pressures to limit the scope of a similar Senate bill, expected to be considered next week, pose a greater threat to the effectiveness of the bankruptcy provision, the advocates say.
Nearly 202,000 Colorado homeowners are expected to go into foreclosure by 2013, according to a report by the Center for Responsible Lending, with 60,640 foreclosures taking place just this year. The hardest hit district? Doug Lamborn's CD 5 — the home of the Ronald Reagan Memorial Highway and conservative epicenter of personal responsibility.
While packed with carrots encouraging mortgage lenders to modify troubled loans, President Barack Obama’s plan to stem the foreclosure crisis still awaits its stick: the empowerment of bankruptcy judges to alter the terms of primary mortgages.
I guess there must be a bright side for somebody in any economic downturn, and top bankruptcy lawyers seem to have found it. As hard times hit more businesses, they are charging upwards $1,000 per hour or more for company restructurings, Bloomberg reports.
Congressional Democrats hoping to use the economic stimulus package to force lenders to refinance troubled mortgages have met an unlikely opponent: President Barack Obama. Many Democrats, including Obama, have long-supported the strategy of empowering bankruptcy judges to alter the terms of primary mortgages to prevent foreclosures. But White House officials have said they don’t want the bankruptcy provision in the stimulus bill for fear of alienating Republicans, most of whom oppose the change.
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