Governments in Chicago, San Bernardino, CA, and Suffolk County, NY plan to use eminent domain powers to provide mortgage relief. Created by Mortgage Resolution Partners, the plan being considered would allow local government to seize mortgages on homes of underwater borrowers using eminent domain laws. The bank holding the mortgage would then receive current fair…

One of Georgia’s senators cosponsored an amendment to raise the federal home-loan guarantee limit, and both voted for it.  Georgia’s Republican senators, Saxby Chambliss and Johnny Isakson, crossed the aisle October 20 to provide necessary votes for a measure to increase Fannie’s and Freddie’s limits for home loan guarantees. The amendment to an appropriations bill required the support of…