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For Immediate Release
January 27, 2009 |
Contact: Jonathan Godfrey
Lillian German
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(Washington, DC) - Today, the House Judiciary Committee approved H.R. 200, the "Helping Families Save Their Homes in Bankruptcy Act of 2009." The legislation, which would grant a judge the ability to modify the terms of a mortgage for a homeowner in chapter 13 bankruptcy, passed by a vote of 21-15.
"I have been working on this legislation – on a bipartisan, bicameral basis – for nearly two years, because I believe it represents one of the most tangible steps we can take to limit the fallout from the real estate depression sweeping the nation," said Conyers.
"If we can spend 700 billion dollars to bail out the brokers on Wall Street, it seems the very least we can do is allow working families, willing to repay their debts as best they can, under court supervision, the dignity of being able to stay in their home."
The full text of the chairman’s opening statement.
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