Comments on: Should congress reform bankruptcy laws to allow courts to modify primary mortgages so people can their homes? http://www.pabankruptcylawyers.org/bankruptcy-questions/should-congress-reform-bankruptcy-laws-to-allow-courts-to-modify-primary-mortgages-so-people-can-their-homes-2/ Bankruptcy info and tips. Sat, 31 Jul 2010 17:18:23 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: Landlord http://www.pabankruptcylawyers.org/bankruptcy-questions/should-congress-reform-bankruptcy-laws-to-allow-courts-to-modify-primary-mortgages-so-people-can-their-homes-2/comment-page-1/#comment-191 Landlord Mon, 01 Jun 2009 23:29:49 +0000 http://www.pabankruptcylawyers.org/should-congress-reform-bankruptcy-laws-to-allow-courts-to-modify-primary-mortgages-so-people-can-their-homes-2/#comment-191 <a href=""></a> While I would make a fortune if I could do this, literally millions, I have to disagree. I was given cash money, I need to repay it.

While I would make a fortune if I could do this, literally millions, I have to disagree. I was given cash money, I need to repay it.

]]> By: Dizzy_Lizzy http://www.pabankruptcylawyers.org/bankruptcy-questions/should-congress-reform-bankruptcy-laws-to-allow-courts-to-modify-primary-mortgages-so-people-can-their-homes-2/comment-page-1/#comment-190 Dizzy_Lizzy Sun, 31 May 2009 16:28:37 +0000 http://www.pabankruptcylawyers.org/should-congress-reform-bankruptcy-laws-to-allow-courts-to-modify-primary-mortgages-so-people-can-their-homes-2/#comment-190 <a href=""></a> I can’t agree. The protection is that mortgage lenders have assurance that borrowers can’t just file bankruptcy and change their loan terms. How can we motivate mortgage lenders to keep giving loans if they have to be concerned the terms of those loan can be altered? I understand that sometimes bad things just happen to people, but I’ve also seen plenty of instances where people are just careless with their finances. It’s not fair to punish lenders for borrower’s bad choices. Regardless of anything else, those borrowers did *choose* to take those loans and they did agree to pay them off completely.

I can’t agree. The protection is that mortgage lenders have assurance that borrowers can’t just file bankruptcy and change their loan terms. How can we motivate mortgage lenders to keep giving loans if they have to be concerned the terms of those loan can be altered?

I understand that sometimes bad things just happen to people, but I’ve also seen plenty of instances where people are just careless with their finances. It’s not fair to punish lenders for borrower’s bad choices. Regardless of anything else, those borrowers did *choose* to take those loans and they did agree to pay them off completely.

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