Officials Like Scheme To Seize Mortgages
Never mind that it's nutty, politicians are getting enthusiastic about a plan to use eminent domain to grab mortgages
Despite fierce pushback from housing and financial industry groups, interest in a plan to use local governments' eminent domain power to purchase underwater mortgages is picking up steam.
The controversial plan, developed by Mortgage Resolution Partners in San Francisco and in the adoption stage in San Bernardino County, has attracted serious attention from officials in Berkeley and Chicago.
Hide Comments (0)
Editor's Note: As of February 29, 2024, commenting privileges on reason.com posts are limited to Reason Plus subscribers. Past commenters are grandfathered in for a temporary period. Subscribe here to preserve your ability to comment. Your Reason Plus subscription also gives you an ad-free version of reason.com, along with full access to the digital edition and archives of Reason magazine. We request that comments be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of reason.com or Reason Foundation. We reserve the right to delete any comment and ban commenters for any reason at any time. Comments may only be edited within 5 minutes of posting. Report abuses.
Please
to post commentsMute this user?
Ban this user?
Un-ban this user?
Nuke this user?
Un-nuke this user?
Flag this comment?
Un-flag this comment?