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On Monday, December 10, 2007, The Commercial Law League of America’s Bankruptcy Section provided comments to the US House Judiciary Committee regarding pending legislation entitled the” Emergency Home Ownership and Mortgage Equity Protection Act of 2007″ (HR 3609). Cooper attorney Peter Califano, who is the Chair of the CLLA Bankruptcy Legislative Committee, led that review and analysis. The legislation would allow Bankruptcy Judges to adjust mortgages on debtor’s principal residences in order to avoid foreclosures and is being considered with other efforts to address the current crisis in the housing and credit markets.

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