Daily Real Estate News April 3, 2008
Bankruptcy Up 27 Percent vs. Year Ago
U.S. consumer bankruptcy filings rose 27 percent from the same month a year ago, the American Bankruptcy Institute reported Wednesday.In March, consumer bankruptcy filings totaled 86,165. That marked a steady increase from 76,120 filings in February and 66,050 recorded in January, the non-partisan bankruptcy research group said.Currently, legislation in the U.S. Senate would help struggling homeowners refinance their mortgage, but it would not allow federal bankruptcy judges cut the interest rate and other terms for borrowers unable to pay their mortgages. Republicans and the banking industry oppose that provision, backed by Sen. Richard Durbin, an Illinois Democrat.Source: Reuters News (04/02/2008)
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