Professor proposes massive use of eminent domain as a solution to the mortgage crisis.

Professor proposes massive use of eminent domain as a solution to the mortgage crisis.

In a New York Times Editorial, a Yale Professor has advocated the use of eminent domain as a means of eliminating “underwater” mortgages. His article states that some form of collective action must be taken by holders of these mortgages to write them down so that homeowners will again owe less on a house than it is worth. The article cites to a theory proposed by another professor from Cornell University that such collective action can be forced by the use of eminent domain whereby the government forcibly buys out the interest of the mortgage and then resells them to public investors all at less than the amount of the original loans. At least one community (San Bernadino) is considering this tactic.

 

Receive Updates on this Project

In an effort to keep property owners informed of redevelopment and transportation projects in Missouri, we have developed a list of projects to track information. Simply select the project from the appropriate Project Area to find information and subscribe to future updates. If a project is not listed, contact us.

March 15, 2014 / Uncategorized

Share the Post

About the Author

Denlow & Henry is the only Missouri law firm practicing solely in eminent domain law. More importantly, we only represent property owners.

Our firm has offered these services for more than 35 years. We have diligently protected the constitutional property rights of our clients and strived to obtain full compensation for the taking of their property.

Comments

No comment yet.

Leave a Reply

Cart

  • No products in the cart.