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Loan Modification

: Mortgage Lender Implode-o-Meter

A Path Is Sought for States to Escape Their Debt Burdens

By Implode-Explode Heavy Industries

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``Unlike cities, the states are barred from seeking protection in federal bankruptcy court. Any effort to change that status would have to clear high constitutional hurdles because the states are considered sovereign... proponents say some states are so burdened that the only feasible way out may be bankruptcy, giving Illinois, for example, the opportunity to do what General Motors did with the federal government?s aid. ''

Full post as published by Mortgage Lender Implode-o-Meter on January 21, 2011 (boomark / email).

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