U.S. regulators and lawmakers are seeking ways to keep local governments from using the power of eminent domain to seize mortgages, citing concern about the potential cost to taxpayers, investors and homebuyers. The issue, the subject of a Mortgage Bankers Association symposium today, has gained attention in Washington after the city of Chicago and California’s [...]
Feds Want to Stop Local Governments from Seizing Mortgages to Stop Foreclosures
September 20, 2012 | Posted by
Revolutionary: Southern California County Facing Down Big Banks, Defending Homeowners
September 2, 2012 | Posted by
A Southern California community is looking to a rarely invoked government power to save underwater homeowners from foreclosure. Eminent domain is a government privilege usually invoked to acquire private land for public works like new roads and power lines, but San Francisco-based venture fund Mortgage Resolution Fund is calling for government officials in San Bernardino [...]
