Government
Jun. 21, 2012
County explores seizing underwater loans
In a novel approach to try to help homeowners in a region with one of the highest concentrations of distressed mortgages in the U.S., San Bernardino County formed a commission to explore using eminent domain to seize underwater mortgages.
Daily Journal Staff Writer
SAN BERNARDINO - In a novel approach to try to help homeowners in a region with one of the highest concentrations of distressed mortgages in the U.S., San Bernardino County Tuesday formed a special commission to explore using eminent domain to seize underwater loans to help people obtain workouts.
Legal experts say the county's plan would be the first time in the nation that eminent domain...
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