County governments want eminent domain to refinance mortgages
October 23, 2012 at 1:05 pm in Accountability, GAN, John B.T. Campbell III, News by ****** ********* ·
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…
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