San Bernardino County Declines Eminent Domain
On January 24, the Mortgage Bankers Association (MBA) published an article entitled San Bernardino County JPA Declines Eminent Domain Proposals.
San Bernardino County JPA Declines Eminent Domain Proposals
Today, the Board of the Homeownership Protection Program Joint Powers Authority (JPA) decided against considering proposals that would utilize eminent domain to fix the mortgage crisis in San Bernardino County, California. In response to the decision, Board Chairman Greg Devereaux highlighted a point that MBA and the California MBA have consistently made throughout the eminent domain debate: that it would further destabilize the housing market and worsen the mortgage crisis. Mr. Devereaux also noted that very few local homeowners in San Bernardino County had expressed support for using eminent domain to seize underwater mortgages; in fact, many had expressed opposition to the proposals. MBA will continue to monitor eminent domain discussions nationwide, however, the communities that had expressed an interest in this issue were all waiting to see what San Bernardino would do before acting themselves.
MBA thanks the California MBA for their leadership on this issue.
To view the online article, please click here.
To read a related media article, please click on the link:
Mortgage Seizures Unlikely to Advance, California Official Says
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.