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Eminent domain plan moves ahead despite opposition

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Mortgage Professional America | 12 Sep 2013, 03:44 AM Agree 0
A California city is moving forward with a controversial plan to save underwater homes using eminent domain
  • estaban montoya | | 12 Sep 2013, 10:52 AM Agree 0
    The classic government solution to a problem,steal from someone.
  • Rick | | 13 Sep 2013, 09:24 AM Agree 0
    So let me get this straight. Homeowner is upside down on their home. City takes over the lender position via eminent domain and homeowner pays city new mortgage payment based on todays value? When homeowner fails to make that payment then city must foreclose. Welcome to the club. Be careful what you wish for.
  • Anne | | 14 Sep 2013, 12:01 PM Agree 0
    I hope they don't get away with it- but its what they call "Partnering." Now that banks are the major property owners, they are now experiencing the pressure what home owners / investors have been under.
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