Two ways the new mortgage rules impact consumers and taxpayers

House passes mortgage rewrite bill MortgagePress.comHouse of Representatives, HR 1106, mortgage modifications, bankruptcy The House of Representatives has passed the mortgage rewrite legislation, HR 1106, by a vote of 234-191. The legislation passed after members added provisions to the legislation designed to require homeowners to attempt to workout mortgage modifications with their lenders before seeking rewrites through bankruptcy proceedings. The Senate is expected to take up the bill before the end of March. For a copy of the bill, click here.