Spending Bill Bans FHA from Financing Eminent Domain Loans
“The so-called cromnibus appropriations bill passed by the House late Thursday included a little-noticed provision that would make it more difficult for municipalities to use eminent domain to condemn and seize underwater mortgages. The massive…
Newark Homeowners Urged to Learn How to Stop Unfair Foreclosures
“Last June in a guest op-ed for the Star Ledger I reported on Newark Mayor Ras Baraka’s commitment to help an estimated 1,000 families to save their homes from foreclosure. He could do this by…
Irvington’s eminent domain plan not the answer
“Irvington Mayor Wayne Smith and Udi Ofer, executive director of the American Civil Liberties Union of New Jersey, suggested the adoption of a program that requires the township to use the power of eminent domain…
Eminent Domain: A Long Shot Against Blight
“You can’t fight city hall, the saying goes. But Gayle McLaughlin, the mayor of Richmond, Calif., a city of 100,000 souls, would tell you that fighting Wall Street is harder. Even for city hall. Ms….
NJ TOWN TURNS TO EMINENT DOMAIN TO CLEAN UP BLIGHT OF FORECLOSED HOUSES
“Irvington has become the second municipality in the country — after Richmond, CA — that is attempting to convert eminent domain into a tool to help homeowners deal with neighborhoods blighted by foreclosed houses. But…
Pomona California eyes eminent domain programs
“The city of Pomona in California is deliberating how to solve its housing problems and is taking a closer look at use of eminent domain, the Mortgage Bankers Association said. The Mortgage Bankers Association wrote…
The Attack on U.S. Property Rights Continues
“Gayle McLaughlin, the mayor of Richmond, Calif., is threatening to use the city’s power of eminent domain to seize 624 mortgages from banks that are unwilling to sell these mortgages to the city. This brazen…
Eminent domain may find new use to salvage urban homes
“Her lending bank, Wells Fargo, worked with her to modify the loan, bringing the monthly payments down by $49 a month. But the payments are still beyond her reach and her home is worth less…
North Las Vegas moves ahead with controversial rescue of underwater homes
“h Las Vegas is moving forward with a controversial plan to partner with a private company and use the city’s power of eminent domain to help underwater homeowners refinance their mortgages. The city council voted…
Report: Foreclosure crisis continues to ravage Newark economy
“As Newark auctions off almost 80 foreclosed properties this morning at Newark Symphony Hall, down the street at City Hall, an advocacy group for low-income residents will raise the alarm that the foreclosure crisis has…