Abandons Eminent Domain Mortgage Plan" Alejandro Lazo, LA Times, January 24, 2013, www.latimes.com. Recent other cities reported to be considering the plan are Chicago, Illinois and Brockton, Massachusetts. See "Chicago Considers Eminent Domain to Seize Underwater Mortgages" Jon Prior, Housing Wire, July 7, 2012,

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California County Considers Using Eminent Domain to Seize Underwater Mortgages.. Litigation California County Considers Using Eminent Domain to seize underwater mortgages local authorities from.

regarding the city’s controversial plan to help underwater homeowners by seizing mortgages via eminent domain. Wednesday by a 4-3 vote. chicago; stockton, Calif.; and Brockton, Mass., are among the.

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The City of Chicago will hold a hearing over using eminent domain to seize underwater mortgages. The idea first came under consideration in San Bernardino County, Calif. Venture capital firm Mortgage Resolution Partners is pitching the idea to several cities across the country. Using investor dollars, local governments would seize performing mortgages in negative equity, reduce the principal for the borrower and refinance it into a government-backed loan.

The City of Chicago will hold a hearing over using eminent domain to seize underwater mortgages. The idea first came under consideration in San Bernardino County, Calif. Venture capital firm Mortgage Resolution Partners is pitching the idea to several cities across the country. Using investor dollars, local governments would seize performing mortgages in negative equity, reduce the principal for the borrower and refinance it into a government-backed loan.

Brockton is exploring using eminent domain powers to seize bad mortgage loans that. Brockton has 7,000 homeowners currently “underwater,” or living in homes that are valued below their mortgages,

Houses across the country are underwater, and San Bernardino County is trying something new: eminent domain. The county would use its power to seize mortgages and restructure them.

New Chicago Machine Scam In the Works: Eminent Domain Seizure of ‘Underwater’ Mortgages by Steve Bartin 08/14/2012 With property values down 40% since 2006 in Chicago, the Chicago Democrat Machine has a new scam brewing.

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Mayor Rahm Emanuel is opposed to a plan that would use the city’s power of eminent domain to rescue homeowners with underwater mortgages. Reports Chicago Real Estate Daily. Using its condemnation.