CRL’s Summary of Credit Suisse Findings on Bankruptcy Reform
Judicial modifications would save hundreds of thousands of families from foreclosure. "We [Credit Suisse] expect the bankruptcy plan will provide about a 20% reduction in foreclosures." (p. 1) "[T]he new plan adds an important new tool in the foreclosure avoidance arsenal…" (p.4) The ability to modify mortgages in bankruptcy will also increase voluntary loan modifications. "We [Credit Suisse] expect the...