Eminent Domain Becoming a Thing of the Past

Industry Update: On October 25, Housingwire.com published an article entitled Eminent Domain -- Now in the Past Tense?

Eminent domain -- now in the past tense?

A quick look at the Los Angeles Daily News suggests that a highly-publicized and controversial plan to seize underwater mortgages using the theory of eminent domain may be dead before it ever got going.

According to the op-ed, a San Bernardino County, Calif. meeting to discuss an eminent domain proposal involving Mortgage Resolution Partners was canceled "due to the expected lack of a quorum," the paper says, citing a county official.

This means that the issue won't be heard from again by the County until the end of January 2013.

To read the online article, please click here and scroll to the last article. 

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 more than 1,600 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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