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Thursday, May 05th

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You are here News Economy Mortgage help for bankrupt homeowners dropped

Mortgage help for bankrupt homeowners dropped

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House Democrats say the idea of letting judges rewrite mortgages to help bankrupt homeowners avoid foreclosure won't be a part of the $700 billion financial industry bailout.

Speaker Nancy Pelosi, D-Calif., told Democrats at a closed-door meeting Friday evening the provision would be a deal-breaker for Republicans who she has said must deliver substantial votes for the rescue plan. That's according to several lawmakers who attended the session.

Democratic presidential nominee Barack Obama had said earlier that the measure didn't belong in the bailout.

TVNL Comment: Still think that Democrats are good? They are all your enemies!

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