Commentary: Eminent domain is not answer for mortgage woes

06/29/2012 | Bloomberg

Steven Greenhut of the Franklin Center for Government and Public Integrity writes that officials in San Bernardino County, Calif., believe they might have discovered a way to resolve housing issues. Officials are looking into the idea of expanding the interpretation of eminent domain to seize mortgages of those who are underwater. However, Greenhut argues that the eminent domain idea is a bad one that would likely backfire. Read the letter from SIFMA and other organizations to the San Bernardino County Board of Supervisors regarding the use of eminent domain to seize mortgages.

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