Atlanta Bankruptcy Attorney
Pelosi, Hoyer support bankruptcy reform
House Speaker Nancy Pelosi and House Majority Leader Steny Hoyer break from President Obama and support an immediate change to bankruptcy laws to help homeowners and consumers.
Both Pelosi and Hoyer state they see an immediate need to allow bankruptcy judges the power to modify primary home mortgages to prevent foreclosures and keep homeowners in their homes.
Pelosi and Hoyer, however, do disagree on whether the bankruptcy reform measures should be part of the initial stimulus package or stand alone. Pelosi favors the first, while Hoyer favors bankruptcy reform as a stand alone measure.
Helpful to the cause are Blue Dog, conservative Democrats Brad Miller and Jim Marshall supporting the reform, complaining that banks have done very little to help homeowners during the foreclosure crisis.
Hopefully Speaker Pelosi and Majority Leader Hoyer will use the bully pulpit to push this reform, and then make this reform a reality.