House Majority Leader Reports Agreement Likely on Bankruptcy Mortgage Modification

Bloomberg and the Wall Street Journal report today that House Majority Leader Steny Hoyer (D. Md.) states that a compromise agreement may be reached today on the bankruptcy mortgage modification proposals pending in Congress in H.R. 1106. Bloomberg also reports the House of Representatives may vote as early as Thursday on the bill. The bill provides that Bankruptcy Judges may modify mortgages on principal residences under certain circumstances.