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Bankers Fight Mortgage Reform

Bankers Fight Mortgage Reform

Most congressional Democrats say the quickest way to save homeowners like Troy Butler of Saginaw, Mich., is to let them declare bankruptcy and allow judges to dictate new mortgage terms. Easy, except the lenders that would absorb the pain — and lose control of any deals to ease the terms — do not want to get dragged into bankruptcy court by millions of overextended borrowers. Butler, 40, is a laid-off General Motors worker who has filed for bankruptcy. But the bankruptcy court [...] [...more]

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