Jorge Newbery: Bankruptcy: The Foreclosure Kill Switch

from Bankruptcy on Huffington Post

So, what does a family do when their lender denies a loan modification and instead insists on foreclosure? File bankruptcy. What happens a few months later when the lender has court permission to reschedule the foreclosure sale? The homeowner files bankruptcy again.

Read more: Business News, Foreclosure Crisis, Foreclosure, Loan Modifications, Bankruptcy, Housing Crisis, Money News