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Released: January 24, 2013
New look at eminent domain to seize troubled mortgages
Source: Alejandro lazo, L.A.Times (Free Registration)
San Bernardino County and two of its cities last year created a national stir with a proposal to use eminent domain to seize troubled mortgages and write down debt for homeowners.
Eminent domain is usually used to seize land — not loans — to serve the public good, as when local governments seize blighted properties. The San Bernardino effort would be the first widespread attempt at using eminent domain to seize residential mortgages.
Read Full Article: New look at eminent domain to seize troubled mortgages
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