Government
May 15, 2013
Pomona may consider eminent domain to seize underwater mortgages
In an attempt to help homeowners facing foreclosure, city officials in Pomona may look at eminent domain as a way to help struggling debtors refinance their loans.
Daily Journal Staff Writer
As part of an effort to help homeowners facing foreclosure, city officials in Pomona may look at using their powers under eminent domain to keep banks from foreclosing on homes.
The City Council approved an agreement last week with San Francisco-based Mortgage Resolution Partners to develop solutions addressing the city's foreclosure crisis. Though eminent domain hasn't been formally proposed y...
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