Do you think that a Bankruptcy Judge should have the power to modify the mortgage interest rate or reduce the principal balance owed on a home mortgage to the value of the home? A bill is before both the U.S. House and Senate that would allow bankruptcy judges to modify mortgage interest rates and reduce the principal balance owed on a home mortgage to the value of the home for homeowner’s principal residence.

In an opinion posted in the New York Times, the article states that passage of this Bill would help stem the tide of the rising foreclosures our Nation has seen.  We all have seen the almost daily reporting of the rise of foreclosures in the nation

Consumer advocates, including The National Association of Consumer Bankruptcy Attorneys are urging those who are in favor of such a bill to write to their U.S. Congressman or U.S. Senator to voice their approval of the passage such bill.  If you would like to support the passage of this bill.  Click onto this link for your U.S. Congressman in your District and this link for your U.S.  Senators.