Plan to use eminent domain to seize mortgages loses steam

05/20/2013 | Sacramento Bee (Calif.) (free registration), The

A Mortgage Resolution Partners plan to use eminent domain as a tool to reduce the amount that some borrowers owe on mortgages will not be implemented by municipalities such as Sacramento, Chicago and San Bernardino County, Calif., which had considered the option. SIFMA opposes the plan. "MRP sells themselves as a community advisory group but it is really a vulture fund that's trying to take advantage of an opportunity in the marketplace to enrich themselves," said SIFMA's Tim Cameron. Learn more at SIFMA's Eminent Domain Resource Center.

View Full Article in:

Sacramento Bee (Calif.) (free registration), The

Published in Brief: