Relevant:
- San Bernardino Eminent Domain Proposal Arousing Concern From Mortgage Industry
- Eminent Domain to Stop Foreclosure: Clever, but Not the Only Solution
- Edward DeMarco Threatens Action Against Communities Weighing Principal Reduction Proposal
- The Mortgage Condemnation Plan: Fleecing Municipalities as Well as Investors
- Mortgage investors' inevitable constitutional challenge to eminent domain
2012-10-02 — huffingtonpost.com
This is not a story about the merits or shortcomings of this particular proposal, which has already generated national attention. The banks that control mortgages deride it as an affront to the sanctity of contracts. Even some people who advocate principal reduction, such as financial blogger Felix Salmon, have branded the proposal a sweetheart deal for the venture fund. The fund's backers argue that they are merely stepping in to assist troubled municipalities with a pragmatic, if unorthodox, solution to a festering, vexing problem.
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