Representatives to Meet on Compromise for Mortgage Modification Bankruptcy Bill
In the face of opposition from the lending industry, House Judiciary Committee members are attempting to work out a compromise over legislation introduced recently that would make it easier for bankruptcy judges to modify home mortgages that are on the verge of foreclosure, CongressDaily reported today. Judiciary Chairman John Conyers (D-Mich.) said yesterday that he expects to mark up the bill next week after he pulled it from the panel’s calendar last week in the face of resistance from Republicans and some Democrats. Conyers said that bill sponsor Rep. Brad Miller (D-N.C.) and Judiciary Commercial and Administrative Law Subcommittee ranking member Chris Cannon (R-Utah) are scheduled to meet this week in an attempt to reconcile their differences over H.R. 3609. One possible compromise being discussed is for the bill to sunset after three years.






