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H.B. 7307: Chapter 13 Bankruptcy Home Mortgage Modification Bill

H.B. 7307: Chapter 13 Bankruptcy Home Mortgage Modification Bill

This is a discussion on H.B. 7307: Chapter 13 Bankruptcy Home Mortgage Modification Bill within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Democratic Congressional leaders introduced House Bill 7307 this week to remove a ban on modification of a homeowners residential bmortgage/b ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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11-28-2008, 09:09 PM

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H.B. 7307: Chapter 13 Bankruptcy Home Mortgage Modification Bill ...

Democratic Congressional leaders introduced House Bill 7307 this week to remove a ban on modification of a homeowners residential bmortgage/b in chapter 13 bankruptcy.* It would correct a 30-year-old.

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7307, bankruptcy, bill, chapter, home, modification, mortgage

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