Louisiana Senator Mary Landrieu and Senator David Vitter both voted today to reject the Helping Families Save Their Homes Act of 2009.
This bill would have permitted bankruptcy judges to modify home mortgages to allow families to keep their homes.
With major corporations and banks getting bailed out, it is inconceivable that the same rights that a corporation has in a Chapter 11 bankruptcy to restructure its debt is not going to be made available to consumer debtors in Chapter 7.
If you or someone you know has tried to get a mortgage modification and has been rejected, or is at risk of losing their home to foreclosure, let Senator Landrieu and Senator Vitter know that it was within their power to give this mortgage modification authority to bankruptcy judges.
by Kevin Gipson, New Orleans, Louisiana bankruptcy lawyer.