San Bernardino County and two of its cities have decided not to pursue a proposal to use eminent domain to seize underwater mortgages from mortgage-backed securities and write down the principal.
David Wert, public information officer for San Bernardino County, said the JPA in January voted against any type of principal reduction plan that would. BuilderHow Much?. experts lined up at a San Bernardino County hearing yesterday to push back against the idea of seizing underwater mortgages through eminent domain.
A powerful financial industry group last week stepped up its attack against one company’s plan to help local governments use eminent domain to seize certain. and their negative economic effects..
Housing Wire: San Bernardino County Residents Push Back Against Eminent Domain Local residents and mortgage finance experts lined up at a San Bernardino County hearing Thursday to push back against the idea of seizing underwater mortgages through eminent domain. The county set up a special authority committee to consider ideas for addressing.
How Jefferies’ compliance failed in mortgage fraud case A former Nomura Holdings Inc. trader was found guilty of conspiring to lie to clients about mortgage-bond prices, while another was cleared of all charges in a verdict that highlights the challenge of.
It’s not often we go an entire week without a blog post, but last week was a bit hectic on our end. Here’s a few California eminent domain and infrastructure updates from throughout the week: san bernardino eminent domain: In its article "ivda approves eminent domain for Tippecanoe widening," The Riverside Press-Enterprise is reporting that the.
Mortgage applications tick up 2.6% The 2.6% mortgage trick – lovemoney.com – Get suckered in by a super low mortgage rate and it could cost you thousands. Right now, the best-buy mortgage rates look really attractive. The top two trackers are a snip at under 2%, while fixed rates of less than 3% are becoming increasingly common.. But when the time comes to choose a new mortgage, you should always remember one thing: It’s never just about the headline rate.Senators press Obama for swifter REO strategy Press Release – U.S. Senator Bob Menendez of New Jersey – Senators Urge Innovative REO Rehab-to-Rent Strategy to Help Stabilize Housing Friday, October 28, 2011. Washington – In an effort to boost the economy, create jobs, and stabilize neighborhoods, 33 U.S. Senators are asking the Obama Administration and the Federal Housing Finance Agency (FHFA) to swiftly develop an efficient and effective real.
· Supreme Court to decide who wins beach protection as tide rises. Anne C. Mulkern, Eminent domain vs. ‘managed retreat’. The family lived in San Bernardino, to the east of San Diego, and her.
San Bernardino County Backs Down From Shoddy VC Plan Using Eminent Domain. A Southern California government official from a depressed county tried to go up against Wall Street this summer when he shocked the mortgage bond community by telling them he was thinking about using eminent domain to.
California found it’s self in the middle of a national debate last year when San Bernardino County, considered the Eminent Domain tactic as a way of helping residents victimized by the recent housing crisis. With push back from wall street groups and the lack of public support the idea never materialized.