Call Kansas Senators to Support Judicial Mortgage Modification in Bankruptcy

Judicial modification of residential mortgages in chapter 13 bankruptcy is part of H.R. 1106, which passed in the U.S. House of Representatives last week.  The bill now moves to the U.S. Senate and may come up for a vote this week.  We need your help to get the bill passed into law.  Call your Kansas senators and tell them you support judicial modification of home mortgages in bankruptcy.

The bill is designed to stop the home foreclosure crisis and prevent people from losing their homes to mortgage foreclosure.  Using judicial modification in chapter 13 bankruptcy, the loan could be restructured by writing the principal down to the value of the home, fixing the interest rate at a reduced rate and extending the loan to 40 years.  Judicial modification will not save all homes, but will help Kansans who have been victimized by predatory lending.  It will give individual homeowners the same benefits corporations have in chapter 11 bankruptcy. The law change is necessary because lenders are not making voluntary loan modifications.  People who don’t file bankruptcy will be helped by the bill also.

You can help pass this legislation by calling or faxing your Kansas Senators today.  Tell the person who answers you support judicial modification of home mortgages in bankruptcy.  Sen. Sam Brownback,  (202) 224-6521, fax (202) 228-1265, and Sen. Pat Roberts, (202) 224-4774, fax (202) 224-3514.

About Jill Michaux

Jill Michaux is a Kansas bankruptcy attorney with Neis Michaux Law Office. She and her partner, Mark Neis, are Topeka's only consumer bankruptcy law specialists. They are board certified by the American Board of Certification.