CBS Evening News for Saturday, Nov 03, 1990
View other clips in this broadcast →
Material supplied by VTNA may be used for educational analysis or research only. Any editing, reproduction, publication, rebroadcast, public showing or public display may be prohibited by copyright laws.
(Studio: Bob Schieffer) Report introduced.
(Oklahoma City: Bob McKeown) Bankruptcy tactic of "stripping down a mortgage" to avoid foreclosure examined; case study of Oklahoma City, Oklahoma, homeowner cited as example. [Homeowner Charles THIGPEN, attorney Melinda MONNET - comment on case.] Opposition of lending institutions to this "loophole" in bankruptcy law noted. [Mortgage Bankers Association William CUMBERLAND - says stripping down can cause unforeseeable losses.] [Government National Mortgage Association Arthur HILL - comments.] [THIGPEN - talks about trying to save his house.] Possible impact of tactic on an already bad real estate market explained.
Note to sponsor members: The Vanderbilt Television News Archive video player requires a modern operating system and browser to work properly. If you are experiencing playback problems, check the minimum requirements and adjust your setup accordingly. After adjustments, if you continue to experience problems, please contact us.
Welcome! Above is the abstract of the item that you're interested in viewing from the Vanderbilt Television News Archive's collection. You have three options if you'd like to view this item:
If you believe that you are associated with a sponsoring college or university and have received this message in error, please let us know.