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.
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