Behind on the payments for your yacht? Not to worry, a bankruptcy can lower the payments. Behind on your home? Not so much....
Behind the Senate deal on housing relief
The $15 billion compromise bill includes tax breaks for builders and buyers.
By Gail Russell Chaddock Staff writer of The Christian Science Monitor
from the April 4, 2008 edition
Consumer groups, unions, and civil rights groups cried foul as details of the bipartisan deal surfaced Wednesday night. Critics charge that the subprime mortgage industry marketed many of its loans to African-Americans and Latinos, including those with solid credit ratings. Under current law, bankruptcy judges can restructure loans for a yacht or vacation home, but can't touch primary residences.
Friday, April 04, 2008
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