Eminent Domain Issue Targeted by Rep. Campbell’s Newly Introduced House Act
California Rep. John Campbell (R-CA) has announced the introduction of the Defending American Taxpayers from Abusive Government Takings Act, filed in the U.S. House of Representatives. Mortgage Professional 17 September 2012.
Eminent Domain Furor Hits Capitol Hill
The battle over whether local governments should have the right to seize and restructure troubled mortgages is moving to Capitol Hill. Zibel, Alan. Wall Street Journal 13 September 2012.
NHC’s Open House Blog: Rep. Campbell (CA) opposes eminent domain seizure of performing loans
A bill introduced by Representative John Campbell of California today would prohibit federal backing via FHA, VA, Fannie Mae, or Freddie Mac for loans in counties where a municipality has seized a mortgage loan through…
Eminent Domain Furor Hits Capitol Hill – Developments
Rep. John Campbell (R., Calif.) is set to introduce legislation on Thursday that would aim to put a stake in the heart of the movement to let cities take over severely underwater loans. Mr. Campbell’s…
Fixing the Mortgage Mess: The Game-changing Implications of Bain v. MERS
Two landmark developments on Aug. 16 give momentum to the growing interest of cities and counties in addressing the mortgage crisis using eminent domain… Brown, Ellen. Huffington Post. 26 August 2012.
Third District Foes Differ on Eminent Domain for Underwater Homeowners in California
a href=”http://bit.ly/NT6FER” target=”_blank”>San Bernardino County, the city of Ontario and the city of Fontana recently formed a Homeownership Protection Program joint powers authority. McCarthy, Guy. Redlands – Loma Linda Patch. 24 August 2012.
The impact of eminent domain is causing more damage
If you have ever read Ken Follett’s Pillars of the Earth or its sequel World Without End, you have a sense of what it was like to live in a time when your hard work…
Unusual eminent domain plan stirs Long Island talk
Long Island communities consider using mortgage refinance with eminent domain. Janison, Dan. Long Island News Day 21 August 2012.
FHA ‘concerned’ with eminent domain proposal
The Federal Housing Administration may not be on board with proposals under consideration by some cities and counties to seize underwater mortgages through eminent domain and refinance them into government-backed loans. Prior, Jon. Housing Wire…
Wall Street warns against using eminent domain to seize underwater mortgages
Wall Street warns against using eminent domain to seize underwater mortgages. “Heavy hitters in the financial industry are lining up against a new idea brewing among local government officials to help struggling homeowners by seizing…