Cram-downs — in which bankruptcy judges have the power to reduce home mortgage debt by “cramming down” the principal — have not gotten enough support in the Senate and will be removed from a broader housing bill now under consideration. The Senate will vote on the cram-down legislation, which already passed the House of Representatives and which is a significant part of President Barack Obama’s proposed housing rescue, as an amendment to the rescue bill.
|The week in luxury: A map of Miami-Dade’s priciest condo sales|
|Avra Jain turns to Overtown for next restoration project|
|Swire partners with Carlos Mattos to develop site next to Brickell City Centre|
Luxury home builder sells house in
Palm Beach Gardens for $5.3M
|Restaurants at CityPlace Doral sued for unpaid rent|