Friday, February 6, 2009
Adam Levitin (Georgetown) has posted Helping Homeowners: Modification of Mortgages in Bankruptcy on SSRN. Here's the abstract:
This short essay sets forth the case for permitting modification of all residential mortgages in bankruptcy as an important step in easing the foreclosure crisis, stabilizing the financial system, and protecting against systemic risk going forward.
[Comments are held for approval, so there will be some delay in posting]