Follow this link for a one page concise description of the Principal Paydown Plan we’ve written about in the past (to allow mortgage payments made during a Chapter 13 bankruptcy to go directly to principal thereby reducing the underwater portion of your mortgage). The idea is to encourage homeowners to keep their home because it will make good business sense to do so and help to reduce the volume of foreclosures. Please take a moment to show your support by signing a petition presently before the White House (remember the bankers have their PACS and lobbyists, while we have our clients’ support and grass roots campaigns to effect change!).
Follow these steps to sign the petition:
1) Click here to get to the petition.
2) Click “create an account” and enter all of your information and press “register”
3) Go to your email and click the activation link 4) Go to http://wh.gov/g8d and click “sign the petition”
5) Finally, click on the facebook and twitter links at the bottom of the petition to share with friends
We look forward to keeping you up to date on developments regarding these and other bankruptcy-related issues as circumstances warrant.