Cramming, not just for exams anymore.

Actually, last year I had a post about court ordered cram-downs for residential mortgages.  I’m not a fan.  I’d like to see banks doing a better job with loan modifications, but there are a LOT of dangers in allowing courts to loan modify contracts.

Here is a link to the post.

This was the subject of a lot of hot debate in the real estate net last year.  It is a discussion that needs to continue… although there seems to be less pressure on Congress to allow forced cram downs on residential mortgages.

We’ll see…

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