Contact: John Hartgen
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(703) 739-0800
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href='mailto:jhartgen@abiworld.org'>
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MORTGAGE
CRAMDOWN DEBATE NOW FEATURED ON ABI’S “BANKRUPTCY TOWN
HALL” WEB SITE
size='3'>March 26, 2009, Alexandria, Va.
size='3'>— The newly-released second issue of American Bankruptcy
Institute’s Town Hall Web site (townhall.abiworld.org) examines
the ongoing debate about whether the Bankruptcy Code should be changed
to allow bankruptcy judges to modify, or “cram down,” the
terms of a primary mortgage of a debtor filing for chapter 13. As
foreclosures across the United States continue to increase amid the
housing downturn, the House of Representatives has passed legislation to
change the Bankruptcy Code to allow judges to modify the terms of a
chapter 13 debtor’s primary mortgage. Proponents of the
legislation point to it as a potential solution to stem the rising tide
of foreclosures, while opponents think that such a change would lead to
increased borrowing costs, reduce the number of potential homebuyers and
deepen the housing downturn.
ABI’s Town Hall Web site
was established to provide a forum for both practitioners and the public
to read and share their views on current bankruptcy topics that are
being debated on Capitol Hill and throughout the nation. The site
features commentary on the issues from experts on both sides of the
debate, and users visiting the site are encouraged to add their opinions
as well. The site’s first issue provides both sides of the debate
over whether the federal government should bail out U.S. auto
manufacturers or allow the companies to file for bankruptcy. ABI’s
Bankruptcy Town Hall site will be updated with new issues and commentary
throughout the year as new developments arise affecting consumer or
business bankruptcies.
href='http://townhall.abiworld.org/'>Please click here to view
townhall.abiworld.org.
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ABI is the largest
multi-disciplinary, nonpartisan organization dedicated to research and
education on matters related to insolvency. ABI was founded in 1982 to
provide Congress and the public with unbiased analysis of bankruptcy
issues. The ABI membership includes nearly 12,000 attorneys,
accountants, bankers, judges, professors, lenders, turnaround
specialists and other bankruptcy professionals, providing a forum for
the exchange of ideas and information. For additional information on
ABI, visit www.abiworld.org. For additional conference information,
visit
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