CMBA Joins Coalition in New Letter Opposing Eminent Domain

On September 7, several national, state, and local groups joined in sending a letter to the FHFA, expressing continuing concern about potentially harmful effects the use of eminent domain would have on local economies and housing markets.

Click here to read the letter.

CMBA Joins Coalition Opposing Eminent Domain in New Letter to FHFA

Today, CMBA joined local, state, and national groups in sending a letter to the Federal Housing Finance Agency expressing our continuing concern about potentially harmful effects that the use of eminent domain would have on local economies and housing markets.  Click 
here to read the letter.

As you are probably aware, several municipalities in the state and throughout the nation are now considering various proposals that would utilize their eminent domain authority to seize underwater mortgages from investors and re-write new loans for the borrowers at current market values. 
 
CMBA is coordinating with several local, state, and national groups to oppose these efforts; however, it can be difficult to stay abreast of current developments.  As we did with the California Homeowner Bill of Rights, CMBA will be providing updated news on our homepage -
www.CMBA.com.  Go there now to find out the latest on the activities in San Bernardino and Berkeley.  Other localities will likely begin considering their own proposals, so click back to www.CMBA.com often to make sure you stay informed!  For more detailed information, or if you have any tips on activity in your area, feel free to call the CMBA office at (916) 446-7100.

About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees  and a handful of contractors performing services in the Midwest, to a national company with nearly 1,000 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.

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