Ilya Somin, a law professor at George Mason University, writes that the plan by Richmond, Calif., to use eminent domain to seize mortgages in an effort to help the housing market doesn't make any sense. "Richmond's plan to condemn mortgages is unjust, unconstitutional, and unlikely to benefit the local economy in the long run," Somin writes. "If other jurisdictions imitate this policy, it will also make life harder for future home buyers and potential victims of eminent domain." Learn more at SIFMA’s Eminent Domain Resource Center.
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