Citibank Endorses Bankruptcy Mortgage Modifications

Paul Leonard, Director of the California Center for Responsible Lending, discusses Citibank's endorsement of a measure in a bill before the US Senate that would allow bankruptcy judges to modify home mortgages.

Lenders have always been against this but a disasterous housing market has given Citibank a reason to reconsider.

We'll be watching if other lenders follow Citibannk's lead.

Scott Drake talks with Paul Leonard