Bankruptcy Can Be A Useful Tool For Mortgage Modification

In a recent paper to appear in the Connecticut Law Review, Alan M. White, an Assistant Professor of the Valparaiso University School of Law, analyzes causes of the continued foreclosure crisis and steps that can used to curb it. In the end, he concludes that even though Chapter 13 Bankruptcy represents a substantial cost to Debtors, judicial modification of mortgages in bankruptcy can be a useful tool to develop a standardized approach to debt reduction on principal mortgage balances. Profe

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