Given how much publicity the proposal to condemn underwater mortgages received when it first appeared last summer, I suppose it's not surprising that San Bernardino's decision last week not to move forward has also garnered a lot of attention. Still, it's been hard to keep up with the many articles on the subject these past few days.
If you're trying to keep up as well, here are a number of pieces published over the last few days:
- A January 25 article by Erin Coe on Law360 entitled Calif. County's Halted Mortgage Seizure Plan May Deter Others, that focuses on the question of whether San ...
For the better part of a year, we've been writing about the controversial proposal to use the power of eminent domain to condemn underwater mortgages, allowing homeowners to have a new loan that better reflects the underlying value of the property.
While the proposal originates from a private company, Mortgage Resolution Partners, much of the media attention focused on a single geographic location: San Bernardino County, where (at least according to the Wall Street Journal) Mortgage Resolution Partners claims 42,000 of the County's 59,000 privately held mortgages are ...
It's not often we go an entire week without a blog post, but last week was a bit hectic on our end. Here's a few California eminent domain and infrastructure updates from throughout the week:
- San Bernardino Eminent Domain: In its article "IVDA approves eminent domain for Tippecanoe widening," The Riverside Press-Enterprise is reporting that the Inland Valley Development Agency has authorized moving forward with eminent domain to acquire 461 square feet of property in San Bernardino near the north east corner of Tippecanoe and Central Avenue as part of a street widening effort ...
San Bernardino currently has over a dozen overpass or underpass projects planned throughout the county. Last month, officials had planned to move forward with condemnation proceedings for one such project, the $20 million Hunts Lane overpass located at the Colton-San Bernardino city line.
But according to a Riverside Press-Enterprise article, "Hunts Lane overpass causes some concern," nearby property owners voiced concern over the railroad grade separation project's impacts to their businesses, such as blocking access and destroying visibility. As a ...
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