Chicago considers eminent domain to seize underwater mortgages

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The City of Chicago will hold a hearing over using eminent domain to seize underwater mortgages.The idea first came under consideration in.

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In conjunction with a San francisco outfit called mortgage resolution partners, San Bernadino is considering a plan to exercise eminent domain and seize mortgage liens on some of those underwater..

The Federal Housing Finance Agency has "significant concerns" about a controversial idea floated in Chicago and elsewhere to stabilize communities by seizing and restructuring the mortgages of.

I’m not saying that eminent domain can or cannot be used to seize underwater mortgages, but there is no question that eminent domain can be used to seize ownership of an asset if it is in the.

Eminent Domain As Underwater Mortgages Fix: Why Some Cities Are Considering Unorthodox Measure By Peter S. Goodman FILE – In this June 25, 2012 file photo, DeAun Tollefson, whose home is in foreclosure, joined others in a march at the Capitol to protest home foreclosures in Sacramento, Calif.

. serious about using eminent domain to seize underwater mortgages. country have considered using the power of eminent domain – the.