The House has approved a measure that would allow bankruptcy judges to modify the terms of troubled home mortgages. Judges would have discretion to modify interest rates, reduce the principal, and extend the terms of a mortgage. According to the Mortgage Bankers Association, more than 11 percent of home mortgages are now in some form of distress. The bill now goes to the Senate, where it faces a tougher path to approval. The measure is a key part of the Obama administration’s $75 billion foreclosure prevention plan officially launched this week. The White House estimates the plan will assist up to one in nine homeowners. The program offers financial incentives to mortgage-servicing companies that let troubled homeowners modify their terms. And it calls for the government-backed mortgage giants Fannie Mae and Freddie Mac to refinance loans for those who don’t owe more than 105% of their home’s value. According to Moody’s Economy.com, an estimated 13.6 million borrowers owed more than their home’s worth at the end of last year.