Bankruptcy Code due for changes and may help area Orlando residents

Earlier this month, Illinois Senator Dick Durbin reintroduced legislation that would change the outdated bankruptcy code to allow at-risk homeowners to alter the terms of their mortgages in bankruptcy. He first introduced this bill in the fall of 2007, when experts estimated that nearly 2 million homeowners were at risk of losing their homes to foreclosure. Over the last fourteen months, that number has quadrupled. Today nearly 8.1 million homeowners - 16 percent of all homeowners - are at risk of foreclosure.

More details are on Senator Durbins website:

http://durbin.senate.gov/showRelease.cfm?releaseId=306679

About the author:

Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Orlando, Windermere, Winter Garden Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit www.JerrySellsOrlando.com for your real estate needs. Please give me a call if you have questions about the Orlando and Central Florida real estate market.

Jerry LaRose, P.A., ABR, GRI, e-PRO, CLHMS, REALTOR® 407-580-7011

(Copyright © 2008 By Jerry LaRose, P.A. All Rights Reserved.)