Financial Services Industry Threatens Retaliation at Municipalities Who Use Eminent Domain to Fix the Housing Crisis

By: Friday July 20, 2012 8:55 am

The financial industry is taking another run at a plan to help homeowners, this time the proposed program in San Bernardino County that would use eminent domain laws to acquire underwater mortgages and then refinance them for borrowers at market rates. The financial services lobbying group SIFMA said they would exclude mortgages in San Bernardino [...]

White House Has Concerns With Eminent Domain Proposal

By: Thursday July 19, 2012 6:21 am

The bid by the private company Mortgage Resolution Partners to team with municipalities and use eminent domain laws to purchase underwater mortgages and then refinance them at a discount to the borrower has generated lots of attention at the wonk level. Now the White House has weighed in, and expressed skepticism: The Obama administration has [...]

Rep. Brad Miller on Using Eminent Domain to Reset the Housing Market

By: Friday July 13, 2012 12:45 pm

The reason I initially contacted Rep. Brad Miller today was to discuss an issue that has come into vogue this week as a potential solution to the housing crisis. San Bernardino County is considering a partnership with Mortgage Resolution Partners on a scheme that would condemn underwater mortgages through the process of eminent domain, and [...]

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