Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Bankruptcy Law
The Chapter 13 Alternative: A Legislative Solution To Undersecured Home Mortgages, Samuel Bufford
The Chapter 13 Alternative: A Legislative Solution To Undersecured Home Mortgages, Samuel Bufford
Hon. Samuel L. Bufford
This article discusses minor changes to the U.S. Bankruptcy Code that would make avoiding foreclosure possible for a homeowner who (a) is presently not able to make the mortgage service payments but (b) could make payments for a mortgage that is reduced to the market value of the property and to a fixed market mortgage rate. This article does not address the political issue of what protections Congress might decide to provide mortgage owners and servicers as a part of such legislation.