February 12, 2012

Bankruptcy system takes on the mortgage mess

Bankruptcy system takes on the mortgage mess

The “Debtors Counsel Loss Mitigation Web Portal” is intended to keep troubled borrowers out of foreclosure and bankruptcy court, but critics say it will accomplish little, apart from making millions of dollars for its creator. Aiming to keep overextended borrowers in their homes, judges and trustees in the federal bankruptcy court system have helped set up a service intended to speed the modification of troubled mortgages.


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