Another City Looks at Eminent Domain as Solution to Foreclosures
“Another city hard hit by the housing crisis has proposed exercising its power of eminent domain on behalf of its underwater homeowners. The City Council of Brockton, Massachusetts voted this week to commission a study…
Brockton, Massachusetts, Considers Eminent Domain To Address Foreclosures
“In a move that’s pitting grassroots housing activists against Wall Street interests, the City Council of Brockton, Mass., decided this week to commission a study into the feasibility of using eminent domain powers to seize…
Flawed Eminent Domain Proposal Still Being Pushed
“As a recap, the proposal was put forward by Mortgage Resolution Partners (MRP), a private investment firm. MRP wants to help cities and counties develop plans to condemn underwater mortgages so that the local government…
Eminent Domain and the Housing Market
“Panelists argued the merits of using the “eminent domain” process to help distressed homeowners in which local governments buy homes worth less than their mortgages, and sell the homes back to the owners at the…
Municipalities Look at Eminent Domain to Revive House Sales
“Today’s discussion, hosted by The Center for American Progress (CAP), presents arguments for and against this controversial use of eminent domain. Witnesses include: Steven Gluckstern, chairman of Mortgage Resolution Partners, which provides services for authorities…
Brockton considers plan to seize bad mortgages
“Brockton is exploring using eminent domain powers to seize bad mortgage loans that have devastated many residents and, with a private financial partner, sell them back at lower interest rates to help people keep their…
Inside the Radical Plan to Fight Foreclosures With Eminent Domain
“That’s where Gluckstern’s firm, Mortgage Resolution Partners, enters. It would arrange the funding for these eminent-domain purchases and then help a city like Merced reduce the loans’ principal and resell them to new investors, who’d…
OUR OPINION: City should foreclose on eminent domain idea
“It’s a good sign that Brockton leaders who don’t like the idea of living in the foreclosure capital of the state are trying to solve the problem, but the newest idea afloat is a step…
The Inland Empire housing crisis, eminent domain and the public interest
In discussions about using eminent domain to lower what local families owe on their homes, much has been said about investors who might make or lose money. That perspective is largely an argument for Wall…
The Case Against Using Eminent Domain to Acquire “Underwater Mortgages”
Writing at Doublethink Online, Institute for Justice attorney Dana Berliner makes the legal and economic case against state and local governments trying to fix the housing crisis via eminent domain. Root, Damon. Reason.com 24 September…