October 10, 2008
In an op- ed “Fight for the Family Home” published in the October 10, 2008 edition of The New York Times, Eric Nguyen ’09 discusses how laws make it especially difficult for families to keep their homes, and he argues for reform of bankruptcy laws. He endorses an amendment to the bankruptcy laws that would permit a bankruptcy judge to restructure home mortgages.
Nguyen has conducted research on the efforts of families with children to save their homes through bankruptcy.
He recently published a paper on the subject in the American Bankruptcy Law Journal. In the paper, Nguyen states there are no legal protections specifically designed to aid families in crisis, while the law makes it possible for others to restructure financial arrangements—such as those who own luxury items like boats and vacation homes.
Several bills aimed at aiding families facing bankruptcy have been introduced in Congress, but all have been stalled.
Separately, HLS Professor Elizabeth Warren—who has worked closely with Nguyen—was interviewed about the mortgage foreclosure crisis amidst the current economic downturn, on the WBUR radio program “Here and Now.” Listen here.