This page features interviews from various viewpoints on credit and home mortgage "strip-down" or "cram-down" in bankruptcy.Subsequent to the interviews on home mortgage "cram-down" in bankruptcy, the bill empowering bankruptcy judges to reduce home mortgage principle and interest failed to pass in the Senate on April 30, 2009.
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Lynn Lopucki, LLM, is the Security and Pacific Bank Professor of Law at UCLA Law School. He is a firm advocate for granting bankruptcy judges the power to "cram-down" or "strip down" principle and interest provisions in home mortgage contracts, and sees it as a common sense way to deal with the current financial crisis. Click here to download interview. |
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David Kittle, Chairman of the Mortgage Banker's Associate, gives his views of Congress' proposed home mortgage "cramdown," which would give bankruptcy judges authority to change, or "strip down" principle and interest provisions in home mortgage contracts. Click here to download interview. |
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