In response to:

Crazy California County Looks to Seize Underwater Mortgages Through Eminent Domain

Robert125 Wrote: Jul 10, 2012 10:03 AM
a sucker born every minute, and two to take him.

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