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Crazy California County Looks to Seize Underwater Mortgages Through Eminent Domain

Douglas32 Wrote: Jul 10, 2012 9:31 AM
Another "great" idea from the Dumbocrats in California. Here it is obvious that the dumbocrats want to rake over every aspect of life. Of course they are helped by those they have bought, the poor; the illegals; the gays; etc., who will keep voting them into office so they can receive their handout from government not caring that they are stealing from those of use who work hard to earn a living only to see that taken from the government (dumbocrats) so they can buy votes.

Crazy California is at it again.  In another bone-headed attempt at messing up the real estate market instead of letting it reset on its own, officials in San Bernardino County have figured out a way to seize property.  Yes, that’s right; they have come up with a way to “save” homeowners from underwater mortgages by using eminent domain.  They call it the “Home Ownership Protection Plan”.  In order to qualify you have to be current on your mortgage payments and you can’t have a Fannie Mae or Freddie Mac loan.

Eminent domain, broadly understood, is...

Related Tags: California Eminent Domain