El Monte, Calif., might consider eminent domain proposal

08/1/2013 | KTTV-TV (Los Angeles)

El Monte, Calif., is considering using eminent domain as a means to refinance home mortgages that are underwater. SIFMA and other financial-services industry groups say that is a "bad idea" that would hurt people whose retirement plans are invested in mortgage securities, as well as harm the housing market. Learn more at SIFMA's Eminent Domain Resource Center.

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KTTV-TV (Los Angeles)

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