South Florida Bankruptcy Lawyer

US Senate Democrats are pushing for a change to current bankruptcy law in an attempt to stem the tide of foreclosures in the weak housing market. Under the proposal, judges would be given the power to ease the terms of mortgages during bankruptcy proceedings. The rationale, say proponents, is to allow homeowners a second chance to regain their financial footing, while also lessening the impact costly foreclosures are having on the industry.

Opponents say that the measure will only serve to boost uncertainty and drive prices up further, and argue that people who defaulted on their mortgages the first time around are unlikely to keep up with payments even if given another shot.

Are you going through tough financial times? Do you have questions about the option of filing bankruptcy? If so, call 561-353-2500 today to speak with a Boca Raton bankruptcy lawyer for more information.