Mounting evidence that the housing foreclosure crisis is only picking up steam prompted House Financial Services chairman Barney Frank today to warn again that he might revive a proposal to change bankruptcy rules. Frank, (D-Mass.), last spring tried unsuccessfully to push through a foreclosure relief bill known as cramdown, which would have allowed federal judges to lower mortgage payments and interest rates for bankrupt homeowners facing foreclosure.
By Lagan Sebert9 September 2009
