Plan to use eminent domain to seize mortgages loses steam

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

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 in municipalities such as Sacramento and San Bernardino County, Calif., and Chicago, which had considered the option. With those area passing on the idea, Mortgage Resolution Partners is focusing on smaller cities that are interested in implementing its idea.

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

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