Measure to Bar Lender Claim in Bankruptcy Court Denied
March 12, 2001
An amendment to the bankruptcy reform bill that would have barred a mortgage lender from seeking repayment in bankruptcy court if the loan showed a "material" violation of the Home Ownership and Equity Protection was narrowly defeated in the Senate last week. Introduced by Sen. Richard Durbin, D-IL, on March 7, the amendment was voted down 50 to 49.