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February 27, 2009
The vote on legislation to allow bankruptcy judges modify the principal and interest rates on mortgages for homeowners has been canceled.
A group of moderates expressed concerns reportedly in a closed-door meeting of House Democrats regarding the affect of the bill on homeowners who are heading for default. The legislation, which is favored by President Obama was expected to pass on Thursday.
Leaders hope to reschedule the vote for next week.
Read story at FDIC News
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