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Big bank lawsuit tossed as underwater mortgage plan moves ahead

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Mortgage Professional America | 18 Sep 2013, 04:23 AM Agree 0
A federal judge on Monday threw out a lawsuit filed by big banks against a city that is pursuing a controversial plan to help underwater homeowners
  • EMMANUEL ROSAL | | 25 Sep 2013, 07:41 AM Agree 0
    I HOPE MY COUNTY (SOLANO COUNTY) WILL DO THE SAME. HELP (US) HOMEOWNER WHO ARE RESPONSIBLE WITH THEIR DUES AND THEIR MORTGAGE IS DEEPLY UNDERWATER
  • Mario | | 25 Sep 2013, 09:39 AM Agree 0
    I would be careful what you wish for because if local government do use eminent domain to seize properties, lenders will stop lending in these cities, and/or the cost of financing in the areas will be 1 to 2 percent higher then other areas of the country due to the increased risk created by the eminent domain possibilities.
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