In late April, the U.S. Senate rejected an amendment to the housing bill that would have allowed bankruptcy judges to provide relief for troubled homeowners by modifying mortgage payments. Among those who opposed the measure, which was known as "cramdown," was Sen. Chuck Grassley, the ranking member of the Senate Finance Committee.
"It will cause interest rates to go up and will make it more difficult for people to get a mortgage," the Iowa Republican said at the time....
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