They have the republicans jumping ship by the use of a poison pill or two. Beside the other onerous parts that hurts republican interests, the one about being able to having judges ruling.
Loan plan draws criticsBill would let judges alter mortgage terms
By JENNIFER ROBISON
REVIEW-JOURNAL
Housing prices are falling in Las Vegas, but a proposed federal law could keep the savings from filtering down to consumers, a banking trade group says.
The average housing payment would rise more than $200 a month in Clark County if the law passes Congress, the Mortgage Bankers Association said last week.
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The bill would let judges tweak the mortgages of bankrupt homeowners, which would yield uncertainty regarding future asset values and translate into higher risks for bankers, the association said. Covering greater risks would, in turn, require higher down payments, closing costs and interest rates. The association estimates the law would push up interest rates on future mortgages by 1.5 percentage points. That would mean $2,602 more per year, or $217 more per month, on the average Clark County home loan of $217,541.
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http://209.85.173.104/search?q=cache:I5HBkHEktKwJ:www.lvrj.com/business/13967202.html+bail+out+plan+would+let+homeowners+renegotiate+their+mortgage&hl=en&ct=clnk&cd=25&gl=us&client=firefox-aThe government needs to stay out of the whole mess, but i really don't think there was ever a plan to get involved anyway. It's just a ploy on both sides