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Cram-Down |
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The cram-down is an option as long as the Chapter 13 petition is filed more than 910 days after the purchase of the vehicle. NAFCU took a very visible leadership role in ensuring the defeat of mortgage bankruptcy cram-down legislation. The cram-down provision would let federal judges lengthen mortgage terms, cut interest rates and reduce loan balances for homeowners in bankruptcy court, even if the lender objects to this assistance. |
Cram-Down |
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